Forex Smart Trade Results, Monday, August 5, 2024 – $10,551
Forex Smart Trade Results, Friday, August 2, 2024 – $0
August 24, 2024
Forex Smart Trade Results, Tuesday, August 6, 2024 – $9,362
August 24, 2024
Canada – Economic Overview.
Canada is considered a resource-based country, which basically means that most of the economic growth it experienced early on came from the utilization and export of its own natural resources.
According to the IMF, Canada’s economy is the tenth-largest in the world, making it part of the world’s G8.
It ranks as the seventh biggest producer of gold and the fourth-largest producer of black crack (oil).
Despite its robust industrial and manufacturing industry, much of Canada’s GDP actually comes from its service sector.
Its advanced services sector employs three out of every four working Canadians and accounts for about 70% of the country’s GDP.
Next time you meet a Canadian, go ahead and make a bet with him that he works in the services industry.
More often than not, you’ll win!
Canada’s economy really got going in January of 1989, when the Free Trade Agreement came into effect.
The agreement basically removed all the tariffs (that is the tax imposed on trade) between the US and Canada. In effect, Canada now exports over 70% of its goods to the US.
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