What type of economic system does Canada have?
The economy of Canada is diverse. There is the well developed services sector, abundant natural resources, free trade agreements and sound management. The economy of the country ranks eighth among world economies.
The services sector contributes to over two thirds of the output of the country. This sector employs around three-fourth of the workforce of the country. Primary sector employs just around 3% of the working population of the country. However the primary sector has an important role to play as 1/4th of the exports of the country are primary items and there are many areas that are dependant on the primary sector for their income. The major agricultural products that are used are barley, wheat, tobacco, oilseed, vegetables, fruits, forest products, dairy products and fish.
The manufacturing sector of the country produces 26% of the output of the country. This sector developed during the 1990s and is now one of the most important sectors in the economy of the country. Manufacturing and construction provide employment to one-fifth of the population of the country. The close ties with the United States have helped the sector to grow. Some of the major industries of the region are transportation equipment, processed as well as unprocessed minerals, fish products, chemicals, food products; paper and wood products; natural gas and petroleum.
