Canada is now experiencing hard times. The country has to adapt to the realities of where the oil price is low and long time to grow - on materials AMarkets.
In 2014, crude oil exports accounted for 50% of the Canadian GDP.Approximately 2 years later the country will be able to bring this value to 40%. In 2016, GDP growth is projected at 1.5% and 2.5% in 2017. C the beginning of the decline of oil prices and the moment everyone in the country (including infants and the elderly) poorer by approximately $ 2,000.
GDP growth declined by about 1%, while the labor market lost 70 thousand. Jobs. In the regions of Canada, where the oil field - a noticeable budget line (Alberta, Saskatchewan, Newfoundland, Labrador) - Unemployment rose by 2-3%. In 2014, Canadian investment in the oil sector accounted for 56% of total investments.
Index of Canadian shares iShares MSCI Canada index ETF fell by more than 20% from the highs in 2014. A small rise in the last month has not changed much the situation. And yet all the circumstances hint at the fact that the main pain is yet to come.