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Main » 2016 » April » 19 » Oil and suffering of Canada
Oil and suffering of Canada

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.

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