The economy of Canada: between a rock and a hard place Today, Canada is considered to be one of the soundest countries in the world, including its robust monetary policy, low budget deficit and strong natural resource base. The Canadian economy is usually characterised as a highly developed mixed economy. According to the 2019 Index of Economic Freedom, Canada’s score is 77.7, ranking its economy the 8th freest in the world. In 2018, the country had the world’s 10th largest nominal GDP and the 17th largest GDP by purchasing power parity. Employing about three-quarters of the citizens, the service industry dominates the economy. However, the country's vast natural resources drive its exports. Canada is a world’s leader in the production of many commodities, including potash, coal, copper, nickel, zinc, as well as platinum, gold and silver. Moreover, the country is the world’s fourth-largest exporter of natural gas and petroleum. A number of Canada’s major compan...
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