Wednesday, September 11, 2013

Canada's economy - Stable and Predictable

The Economist Intelligence Unit considers Canada the best country in the G-7 in which to do business over the next five years.

“ We’ve been committed to Canada and investing here for 100 years and our goal is to continue expanding this strong presence for the next 100 years. ”
Robert Hardt, President and CEO, Siemens Canada
Canada boasts a diversified economy, a broad resource base and a stable banking and tax environment. Between 2008 and 2011, the country led the G-7 with an average real GDP growth rate of 1.0 percent and is now expected to be among the top G-7 performers through 2016.
  • Canada has the world’s tenth-largest economy and second-largest proven reserves of oil, and is the third-largest producer of natural gas.
  • Moody’s ranks Canada’s banking system number one in the world for financial strength . For the sixth consecutive year, the World Economic Forum rates Canada’s banking system as the world’s soundest. During the global financial crisis, no Canadian bank or insurance company failed or required bailouts.
  • More than 100 projects valued at $1 billion or more each, in oil-and-gas, mining and primary metals, have been announced for the 2012–2020 period.
  • Canada shares a border and one of the world’s largest and most stable commercial relationships with the United States .
  • Sailing times from Canada’s Atlantic and Pacific deepwater ports are up to two days shorter than from other North American ports.
  • Canada’s economy was the first among G-7 nations to recoup the employment losses recorded during the global recession.

Please click here for the release from Department of Foreign Affairs

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