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The economic history of what is now Canada begins with the hunting, farming and trading societies of the Indigenous peoples. Following the arrival of Europeans in the 16th century, the economy has undergone a series of seismic shifts, marked by the early Atlantic fishery, the transcontinental fur trade, then rapid urbanization, industrialization and technological change.
Investors from the United Kingdom and the United States helped fuel the country's economic growth (from a postcard sent in 1907). The economy of the rest of the country improved dramatically after 1896, and from that year until 1914, Canada had the world's fastest-growing economy. [24]
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The economy of Canada is a highly developed mixed economy, [34] [35] [36] with the world's tenth-largest economy as of 2023, and a nominal GDP of approximately US$ 2.117 trillion. [4] Canada is one of the world's largest trading nations, with a highly globalized economy. [37]
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Canada is the world leader in the export of pulp and paper and also exports large amounts of softwood lumber, mostly to the United States. British Columbia, Ontario, and Quebec are the leading provinces in the production of forest products. Canada’s forest industry has to struggle constantly against the threats of fire, insects, and disease.
The economic history of what is now Canada begins with the hunting, farming and trading societies of the Indigenous peoples. Following the arrival of Europeans in the 16th century, the economy has undergone a series of seismic shifts, marked by the early Atlantic fishery, the transcontinental fur trade, then rapid urbanization ...
For the full citation, see the end of the document] The economic history of Canada until 1850 was dominated by waterways. The fur-trade pressed westward by the St. Lawrence with its tributaries and the Great lakes; the fishing industry, the fur-trade, and the lumbering industry depended upon water transport. Only since 1850 have wheat-raising ...
