Read and translate the following text. Сanada’s Industry and Economy Profile

Сanada’s Industry and Economy Profile

Canada is one of the wealthiest nations, and its economy is the 10th largest in the world. The country is a member of the Group of Eight, the Organization for Economic Co-operation and Development, Asia Pacific Economic Development, etc. Its economy is dominated by the tertiary or service sector, while oil and logging industries are among Canada’s most important. The country has a sizeable manufacturing industry, with the aircraft and automobile industry being particularly important.

Canada has a diverse economy, and the key industries are agriculture, manufacturing, energy, and the service sector. Other industry sectors of importance include environmental technologies, renewable energy, wireless communications, chemicals, biopharmaceuticals, shipbuilding and others.

Canada’s natural resource base spreads across its provinces and territories. The country has mineral resources of gold, copper, coal, and iron ore. It is a global leader in the production of lead, diamonds, nickel, gold and uranium.

Canada expands and develops different sources of renewable energy, including bioenergy, solar, and wind energy. The country is a global leader in solar-power commercialization, development, and research. Canada also develops waste-to-energy and biogas technologies and wind-power generation projects.

The forest products industry comprises two subsectors – paper and allied products industries and wood products industries (paperboard, packaging papers, and pulp).

The plastics sector is a multi-faceted and sophisticated sector which encompasses synthetic resins, machinery and plastic products. Canadian companies have expertise in extruders for corrugated pipes, high-quality injection moulding, etc. The country is also a global producer of machinery and equipment, and its expertise spans a variety of subsectors, including oil and natural gas drilling equipment, mining equipment, metalworking machinery, and agricultural machinery.

The aerospace and defence sectors are well-developed, and the country’s aerospace industry is the world’s fifth, after the United States, the United Kingdom, France, and Germany.

The country is a leader in wireless technologies, and Canadian companies operate in areas such as RFID, WiMAX, WiFi, fibre-optics, satellite and broadband applications. Major international telecom companies have presence in Canada, including Huawei, Nokia, and Alcatel-Lucent. Active research and development in next generation amplifiers and nanomaterials is also underway in the country.

Canada also has a competitive and expanding food processing sector and is world-renowned for its high quality wheat and grain products. Among the biggest income-earning crops are wheat, barley, rapeseed (canola), tobacco, fruits, and vegetables. The food distribution sector includes fast food operations, restaurants, grocery stores and supermarkets, etc. Canadian companies produce beef, fish and seafood products, processed/frozen fruits and vegetables, wine, beer, and other products.

Finally, the services sector is diverse and includes the financial services, retail sector, education, high-tech, health, tourism and entertainment. Canada is a leader in retail and institutional banking and financial management services. Thus, the combination of considerable natural resources, skilled workforce, and strong links with trading partners is the driving force of prosperity behind economic growth.