• Analysis and Studies
• Canada: a look at the market

"CANADA DAY" is the national holiday of Canada and it celebrates the anniversary of the British North America Act of 1867. The act funded Canada as we know it today. Indeed, it united the three separate territories of Canada, Nova Scotia, and New Brunswick into a single country, creating the second-largest nation in the world after Russia.

Its land, consisting of 9.984.670 km2, Canada is bounded by the Atlantic Ocean to the east, the Pacific Ocean and the U.S. state of Alaska to the west, the Arctic Ocean to the north, and the United States of America to the south. The capital is Ottawa, and other big cities are Toronto, Montreal, and Vancouver. Although the country gained full independence from the United Kingdom, Queen Elizabeth II is still the monarch and head of state. Canada is a very diverse country. Bilingualism is a defining element of the constitution. Indeed, French and English are the main languages. Most of the population speaks English, but in provinces such as Quebec, French is the main language. 

THE ECONOMY OF CANADA 

With a GDP of 1.65 trillion dollars, Canada is among the global economic superpowers. In the past, the economy of the country was mostly agriculture, but now it is very diversified, consisting of different sectors such as energy, manufacturing, and services. Canada is home to vast natural resources, being the world's 3rd country for oil reserves behind Venezuela and Saudi Arabia. According to the Social Progress Index 2021 (published every year by the Social Progress Imperative, a no-profit organization that ranks countries according to social aspects such as access to basic human needs, general well-being, and opportunities), Canada is the 6th country in the world for living standards. 

The main trading partner in Canada is the United States. With the signing of the NAFTA treaty (North American Free Trade Agreement) in 1994, the two countries enjoyed high levels of economic cooperation. The other main economic partners are China, the United Kingdom, Japan, Mexico, and Germany. 

In 2020, Canada exported crude petroleum ($47.2 billion), cars ($31.8 billion), gold ($14.4 billion), vehicle parts ($9.06 billion), and sawn wood ($7.69 billion), mostly to the United States ($264 billion), China ($19.3 billion), the United Kingdom ($13.2 billion), Japan ($9.44 billion), and Mexico ($5.26 billion);

Canada's main imports are cars ($21.7 billion), vehicle parts ($14.6 billion), delivery trucks ($11.6 billion), broadcasting equipment ($9.74 billion), and gold ($8.98 billion), imported mostly from the United States ($218 billion), China ($49.5 billion), Mexico ($16.1 billion), Germany ($10.9 billion), and Japan ($8.14 billion);

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