The world's seventh largest economy is in Canada. Privately owned business is mostly prevalent. We also see that government in Canada also plays a key role in the health care system. Moreover the transportation and the utility companies are also under the govt. It has been observed that the Canadian economy is very highly developed and varied. It has its similarity with that of the American economy although in a small scale.
History dates back to the fact that aftermath of World War II Canada has witnessed a growth from rural economy to industry and mining. This leap leaded to progress. From the year 1970 Canada had vastly changed growing at each stage. A huge transformation had been observed. In today's day, the basic services now provide the main economic output.
Canada has been uplifted mainly due to its large volume of foreign trade. It has been seen that United States of America is its largest trade partner. The main source of economy is based on this trade factor.