Canada is the world's eleventh-largest economy as of 2015, with a nominal GDP of approximately US$1.79 trillion. It is a member of the Organisation for Economic Co-operation and Development (OECD) and the Group of Eight (G8), and is one of the world's top ten trading nations, with a highly globalized economy. Canada is a mixed economy, ranking above the US and most western European nations on the Heritage Foundation's index of economic freedom and experiencing a relatively low level of income disparity. The country's average household disposable income per capita is over US$23,900, higher than the OECD average.
In 2014, Canada's exports totalled over C$528 billion, while its imported goods were worth over $523 billion, of which approximately $349 billion originated from the United States, $49 billion from the European Union, and $35 billion from China. The country's 2014 trade surplus totalled C$5.1 billion, compared with a C$46.9 billion surplus in 2008.
Canada is one of the few developed nations that are net exporters of energy. Atlantic Canada possesses vast offshore deposits of natural gas, and Alberta also hosts large oil and gas resources. The vastness of the Athabasca oil sands and other assets results in Canada having a 13% share of global oil reserves, comprising the world's third-largest share after Venezuela and Saudi Arabia. Canada is additionally one of the world's largest suppliers of agricultural products; the Canadian Prairies are one of the most important global producers of wheat, canola, and other grains. Canada's Ministry of Natural Resources provides statistics regarding its major exports; the country is a leading exporter of zinc, uranium, gold, nickel, aluminum, steel, iron ore, coking coal and lead. Many towns in northern Canada, where agriculture is difficult, are sustainable because of nearby mines or sources of timber. Canada also has a sizeable manufacturing sector centred in southern Ontario and Quebec, with automobiles and aeronautics representing particularly important industries.
The global financial crisis of 2008 caused a major recession, which led to a significant rise in unemployment in Canada. By October 2009, Canada's national unemployment rate had reached 8.6 percent, with provincial unemployment rates varying from a low of 5.8 percent in Manitoba to a high of 17 percent in Newfoundland and Labrador. Between October 2008 and October 2010, the Canadian labour market lost 162,000 full-time jobs and a total of 224,000 permanent jobs.
As of 2015, the Canadian economy has largely stabilized and has seen a modest return to growth, although the country remains troubled by volatile oil prices, sensitivity to the Eurozone crisis and higher-than-normal unemployment rates. The federal government and many Canadian industries have also started to expand trade with emerging Asian markets, in an attempt to diversify exports; Asia is now Canada's second-largest export market after the United States. Widely debated oil pipeline proposals, in particular, are hoped to increase exports of Canadian oil reserves to China.
Apotex
Apotex is a Canadian pharmaceutical corporation. Founded in 1974 by Dr. Bernard Sherman, the company is the largest producer of generic drugs in Canada, with sales exceeding $2 billion (CAD) a year. The company produces more than 300 generic pharmaceuticals in approximately 4,000 dosages, and has 500 molecules under development. Apotex exports products to over 115 countries around the globe. There are more prescriptions filled with Apotex products in Canada than that of any other pharmaceutical company, close to 90 million per year.
Apotex manufactures and distributes generic medications for a range of diseases and health conditions that include cancer, diabetes, high cholesterol, glaucoma, infections and blood pressure.
Apotex is a member of The Canadian Generic Pharmaceutical Association (CGPA), the Generic Pharmaceutical Association (GPhA), an associate member of the Canadian Animal Health Institute (CAHI), the Canadian Association for Pharmacy Distribution Management (CAPDM), as well as the Greater Toronto Area's Partners in Project Green.
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