Economic growth is projected to increase to 2.3% in 2018. As contraction in the resources sector slows, activity in the rest of the economy is projected to strengthen. Non-energy exports should continue to benefit from stronger export market growth and earlier exchange rate depreciation. Consumer price inflation should pick up to around 2% as the effect of falling energy prices fades and excess capacity is gradually eliminated. 

What policy actions are you taking to harness the benefits and address the challenges of the digital economy?

©AdStock Rf. Under licence from Shutterstock

In July 2008, the Canadian province of British Columbia (BC) launched North America’s first revenue-neutral carbon tax reform. “The Political Economy of British Columbia’s Carbon Tax”, an OECD Environment Working Paper by Kathryn Harrison, looks at this tax from its origins, following it through and beyond a period of political backlash, and finally considers its prospects for the longer term. 

Canada Snapshot 2013

Find key economic figures and trends for Canada from OECD Yearbook 2013

The OECD’s Your Better Life Index, launched at the 50th anniversary OECD Forum on 24 May, lets users from the general public weigh up the factors (initially from a list of 11) they feel matter most in assessing their well-being.

The OECD allows policymakers to come together to identify best practices that shape our public policies. It allows us to compare and benchmark our performance, and learn from top performers. By participating in the OECD peer review process, we benefit from frank discussion among equals on our accomplishments and shortfalls in a variety of areas, from the economy to development policies. The objective and credible analysis provided by the OECD strengthens these discussions. Overall, Canada’s socio-economic performance is strong compared with the OECD. However, in order to improve further, we need to know where others are doing better and to learn how they are achieving these results.

This year we are celebrating the 50th anniversary of a remarkable organisation which has brought a huge and, in many ways, immeasurable impact to the economic and social development not only of its members, but of the world community of nations.

Interview with James M. Flaherty, Minister of Finance, Government of Canada

Why do some businesses, organisations, economies and even countries succeed in achieving their objectives while others do not? Important insights are provided if we treat each of these entities as a complex adaptive system, subject to the same processes as biological evolution.

©REUTERS/Chris Wattie

Canada is home to some well-known technology companies, but is the country innovative enough? The picture is mixed, with resisting complacency being among the challenges to face.

Canadian education enjoys an excellent reputation at home and abroad, thanks to strong performances in such renowned surveys as OECD PISA, which focuses on 15-year-olds. There are several reasons for this success, and as experts from the OECD and Canada explain, reforms that focus on equity and integration all help. But there are challenges too.

After environmental and economic turbulence, Canada’s fisheries are being reformed. The sector is now undergoing a renaissance, though challenges remain.

Major sporting events can boost economies, while giving people a boost too. The Winter Olympics in Vancouver in 2010, which were pulled off to great applause despite the odds, were no exception. How was it done, and what lessons did the organisers learn? We spoke with John Furlong, who headed up the organising committee responsible for the games.

Canada’s labour market was spared some of the more dramatic peaks and troughs of the economic crisis. Why?

Canada is a trading nation. As a geographically large country, rich in natural resources and with a relatively small population, trade was a natural starting point. But Canada has built on this foundation and today boasts a highly skilled and educated work force, a well-developed physical and financial infrastructure, a transparent and predictable regulatory environment, and a high degree of openness to trade and investment.

The Cree Indians around Lake Athabasca used the gobs of tar they found there to waterproof their canoes. The potential of this mundane stuff to yield oil was gleaned early in the 20th century, and Athabasca in Alberta, Canada sits on the world’s richest petroleum resource: more than 2 trillion barrels, as much as all the remaining recoverable conventional oil in the world.

Ministers responsible for employment from around the world gathered at the OECD on 28-29 September to discuss the jobs crisis. In our eighth OECD Observer ministers' roundtable, we ask six representatives, from Canada (co-Chair), Italy (co-Chair), Sweden (vice-Chair), France, New Zealand, and Chile, which is a candidate for OECD accession: What new policy actions are you taking to improve the jobs situation in your country?

The economy has been operating above its estimated production potential, but is expected to decelerate noticeably in the short term as lower external demand and the marked currency appreciation damp activity. Yet growth is likely to rebound quite rapidly once the effects of these international factors disappear. A slowing in commodityprice increases, the federal goods and services tax cut and the stronger Canadian dollar should contribute to a temporary decline in inflation.

Click to enlarge.

Balancing globalisation is not just about narrowing the gap between countries as winners and losers, but also how the gains and costs of globalisation are distributed within each country. The trouble is, though migration may increase interaction between ethnic groups, racial inequality still persists in the workplace, as an October 2005 report by the Canadian Labour Congress shows.

Economic data

GDP growth: +0.6% Q3 2017 year-on-year
Consumer price inflation: 2.3% Sept 2017 annual
Trade: +4.3% exp, +4.3% imp, Q3 2017
Unemployment: 5.7% Sept 2017
Last update: 14 Nov 2017

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