Canada is one of the world's wealthiest nations, with a high per-capita income, and is a member of the Organisation for Economic Co-operation and Development (OECD) and the G8. It is one of the world's top 10 trading nations. Canada is a mixed market, ranking lower than the U.S. but higher than most western European nations on the Heritage Foundation's index of economic freedom.

Today Canada closely resembles the U.S. in its market-oriented economic system, pattern of production, and high living standards. As of October 2007, Canada's national unemployment rate of 5.9% is its lowest in 33 years. Provincial unemployment rates vary from a low of 3.6% in Alberta to a high of 14.6% in Newfoundland and Labrador. According to the Forbes Global 2000 list of the world's largest companies in 2008, Canada had 69 companies in the list, ranking 5th next to France.

Since 2001, Canada has successfully avoided economic recession and has maintained the best overall economic performance in the G8. Canada is one of the few developed nations that are net exporters of energy. In Quebec, British Columbia, Newfoundland & Labrador, New Brunswick, Ontario and Manitoba, hydroelectricity is a cheap and clean source of renewable energy. Canada is one of the world's most important suppliers of agricultural products, with the Canadian Prairies one of the most important suppliers of wheat, canola and other grains. This country is also the world's largest producer of zinc and uranium and a world leader in many other natural resources such as gold, nickel, aluminum, and lead.