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The economy of Canada is a highly developed mixed economy, [33] [34] [35] with the world's ninth-largest economy as of 2024, and a nominal GDP of approximately US$2.117 trillion. [6] Canada is one of the world's largest trading nations, with a highly globalized economy. [36] In 2021, Canadian trade in goods and services reached $2.016 trillion ...
Canada's economic position has shifted dramatically since the 1980s, when it maintained a nearly US$4,000 advantage in per capita GDP compared to an average of "advanced" economies, including the United Kingdom, the United States, France, Germany, Italy, and Japan. By 2000, the United States had established a US$8,000 lead over Canada.
The economies of Canada and the United States are similar because both are developed countries.While both countries feature in the top ten economies in the world in 2022, the U.S. is the largest economy in the world, with US$24.8 trillion, with Canada ranking ninth at US$2.2 trillion.
Canada's economy grew at an annualized rate of 1% in the third quarter, undershooting the Bank of Canada's forecast of 1.5%, after growing 2.2% in the prior quarter. ... The Canadian dollar edged ...
Experts also warn that stiff U.S. tariffs would likely push the Canadian economy into a recession in 2025, causing a spike in inflation and forcing the Bank of Canada to pause interest rate cuts ...
Canadian Prime Minister Justin Trudeau met with President-elect Trump at Mar-a-Lago in Florida Friday to discuss topics like the economy, illegal immigration and a proposed 25% tariff.
Canadian politicians have debated free trade since 1866. [citation needed].Trade with the United States was the main topic in the 1911 Canadian Federal Election, where it was proposed by the Liberal Party of Canada and opposed by the Conservative Party, as well as in the 1984 and 1988 Canadian Federal Election, where the Progressive Conservative Party promoted a free trade agreement, opposed ...
Canada has a highly developed mixed-market economy, [226] with the world's ninth-largest economy as of 2023, and a nominal GDP of approximately US$2.221 trillion. [227] It is one of the world's largest trading nations, with a highly globalized economy. [228] In 2021, Canadian trade in goods and services reached $2.016 trillion. [229]