Fun facts about Canada’s economy
Happy Canada Day!
By Rob Roach, ATB Economics 30 June 2022 1 min read
Everyone knows that the number one ingredient of a successful Canada Day celebration is a handy set of facts about the national economy you can share with friends, family and strangers!
With that in mind, here are five things about Canada’s economy you can slip into conversation on July 1:
- According to Statista.com, Canada has the fourth most valuable store of natural resources in the world. As of 2021, we are estimated to have US$33 trillion worth of natural resources. Russia is first on the list at $75 trillion followed by the US at $45 trillion and Saudi Arabia at $34 trillion.
- Canada exported about $8.8 billion worth of fish and seafood products last year. This puts us among the top ten largest fish and seafood exporting countries. Our position on the list varies depending on which source you use, but WorldAtlas.com puts us in sixth place.
- It varies a bit from year to year and from source to source, but Canada is usually either listed as the ninth or tenth largest economy in the world as measured by annual GDP.
- In 1871, about 80% of Canadians lived in a rural area. Fast forward to today, and it’s the opposite with about 82% of Canadians living in an urban area.
- At $60.6 billion, Illinois imported the most goods of any US state from Canada in 2021. Hawaii imported the least amount at $143.7 million. Why Illinois? Because it is a key destination for Canadian crude oil.
Answer to the previous trivia question: Nova Scotia, New Brunswick, and the Province of Canada (which split to become the provinces of Ontario and Quebec) joined together to form the Dominion of Canada in 1867.
Today’s trivia question: Why was a 50th star added to the American flag on July 4, 1960?