Canada is a natural resources based-economy. With a GDP about $1.6 Trillion US $ in 2020 Canada is one of the largest developed economies in the world. But natural resources from oil to timber to precious metals and everything in between them form big portion of the Canadian economy. Simply digging up these resources and selling them to other countries including the US brings in billions of dollars in revenue and of course supports hundreds of thousands of jobs.
The resources sector is so important to the economy that the S&P TSX Composite Index has a 25% allocation to energy and materials. From an exports point of view, natural resources accounted for about $264 billion in value or about 48% of the value of total merchandise exports, according to Natural Resources Canada.
The following infographic shows more fascinating facts on Canada’s Natural Resources:
Click to enlarge
Source: Natural Resources Canada
