Economic Growth of Canada: Analysis of GDP, Employment and Export

Running head: ECONOMIC GROWTH OF CANADA
Economic growth of Canada
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1ECONOMIC GROWTH OF CANADA
Executive summary:
Canada, one of the developed countries, is the member of G7. It has possessed huge natural
resources and developed industrial sectors. However, the country’s economic growth is
facing some constraints. Hence, this report intends to analyze those concepts with the help of
some macroeconomic factors like GDP growth, employment opportunity and export.
Moreover, this report is going to present the future trend of economic growth.

2ECONOMIC GROWTH OF CANADA
Table of Contents
Introduction:...............................................................................................................................3
Economic growth of Canada:.....................................................................................................3
Reason behind economic growth:..............................................................................................4
Future of Canadian economic growth:.......................................................................................8
Conclusion:................................................................................................................................9
References:...............................................................................................................................10
Appendix:.................................................................................................................................12

3ECONOMIC GROWTH OF CANADA
Introduction:
Canada, becoming the world’s 10th largest economy based on total national income in
2016, along with mixed economic structure, has earned significant importance worldwide.
The two chief dominating sectors are primary and tertiary ones including logging, oil and
service industry. The country has also possessed strong banking network, infrastructural
facilities and other manufacturing services, which in turn has helped the country to develop
faster (BNN, 2018). Hence, it can be beneficial to analyze the economic growth of this
country under the light of specific macroeconomic concept. Thus, this report intends to
analyze the reason and future of this growth with the help of some recent new articles after
discussing the present situation. At the end, a conclusion based on entire discussion can be
provided.
Economic growth of Canada:
According to the data of Statistics Canada, the economic growth of this country has
declined by 0.1% in January 2018. Based on the BNN report, some temporary factors can be
analyzed that have affected the country’s January GDP, adversely. Non-conventional
extraction has been decreased by 7.1 % due to closing of some oil facilities because of
unscheduled maintenance (BNN, 2018). Moreover, Canada has experienced a strict mortgage
lending rules, which in turn has led the country to decrease the leasing, rental and real estate
by 0.5%. However, at the end of 2017, the country has experienced the fastest growing trend
of economy after 2011, because of significant consumer spending and strong housing market.
Canada’s employment opportunity has increased significantly and consequently the specified
country has remained the fastest growing one among all members of G7
(Www120.statcan.gc.ca, 2018). Canada’s economy has enhanced overall by 3% during 2017.