Канада

Canada Economic Profile

Canada, as a member of the G7 advanced nations, is a high-income country with the world's 10th-largest economic scale. With a GDP of approximately 2.1 trillion dollars in 2023, it is positioned as the second-largest economy in North America after the United States. With a population of approximately 39 million, the labor force is qualitatively high, and educational standards are among the highest in developed countries.

The main industrial structure is diversified. In the energy industry, oil and natural gas resources in Saskatchewan and Alberta are important export sources, and Canada is known as a resource-rich nation. Meanwhile, service industries such as financial services, real estate, and information and communication technology (ICT) account for approximately 70% of GDP, and economic modernization is progressing. In manufacturing, the automotive industry plays an important role based on the North American Free Trade Agreement (USMCA) with the United States.

As recent economic trends, combating inflation has become an issue. The Bank of Canada has implemented aggressive interest rate increases since 2022 to suppress inflation. At the same time, the real estate market has entered a price adjustment phase, and rising mortgage interest rates are affecting household spending. The labor market remains robust, though wage growth pressures exist.

Notable points include the rapid transition to green energy. Leveraging abundant hydroelectric resources and wind power potential, policies aimed at carbon neutrality are being promoted. Furthermore, growth in the technology sector, particularly the expansion of the startup ecosystem around Vancouver and Toronto, is supporting economic growth. However, the increase in healthcare and social security expenditures due to an aging population is recognized as a future fiscal challenge.