Canada’s economy falls into a downturn [ Current Affairs ]
About Canada’s Economy: Canada is the world’s 11th biggest economy. The gross domestic product (GDP) of Canada is about 1432, 140 Billion US dollars, so the state in GDP rank is 14th worldwide.
- In purchasing power capacity, Canada is up to 1265.838 billion dollars in 13th place worldwide.
- Its Gross Domestic Product (GDP) has retreated at an annual jump of 0.5 percent from April to June 2015.
- It is the world’s largest producer of Zinc, Cadmium, Nickel, Potassium, Uranium and Sulphur.
- About 80 % of these sources are exported to United States from Canada.
About its downturn:
- After the financial crisis of 2009 for the first time Canada has fallen into downturn.
- In earlier 3 months of 2015, there was economic slowdown of 0.8 percent from the regular GDP.
- Recent downturn is due to the external falling of oil prices and economic troubles in China.
- Published on: September 11, 2015