The economy of Ontario is rich and diversified. Ontario is the largest economy in Canada, with a GDP nearly twice that of neighbouring Quebec, which is Canada's second largest economy. Though manufacturing plays an important role in Ontario's economy, it is the service sector that takes up 76.9%. Ontario's deficit was CAD$9.8 billion in 2012-2013 (1.5% of the GDP), and is expected to rise to CAD$11.7 billion in 2013-2014. As of 2016, Ontario has surpassed Alberta to become the fastest-growing provincial economy in Canada.

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  • The economy of Ontario is rich and diversified. Ontario is the largest economy in Canada, with a GDP nearly twice that of neighbouring Quebec, which is Canada's second largest economy. Though manufacturing plays an important role in Ontario's economy, it is the service sector that takes up 76.9%. Ontario's deficit was CAD$9.8 billion in 2012-2013 (1.5% of the GDP), and is expected to rise to CAD$11.7 billion in 2013-2014. Ontario is the most populous province of Canada, with a population of approximately 13.5 million permanent residents in 2013. It is Canada's leading manufacturing province, accounting for 46% of the manufacturing GDP in 2012. Inflation is at 1.0% as of July 2013, and the unemployment rate is at 7.5%. In 2012, the ratings agency Moody's downgraded the province's credit rating from an AA1 negative outlook to an AA2 stable outlook in April 2012. In 2013, Ontario's main international exports were motor vehicles and parts (34.2%), precious metals and stones (12.3%), mechanical equipment (8.8%), electrical machinery (3.8%), and plastic products (3.6%). Ontario's main international imports were motor vehicles parts and accessories (21.7%), mechanical equipment (14.2%), electrical machinery (11.8%), precious metals & stones (4.5%) and plastic products (3.7%). Ontario was the leading state/province for attracting foreign direct investment (FDI) in North America in 2013, with $7.23bn. This accounted for more than one-tenth of all FDI in North America. It was also the 4th biggest state for outward FDI, recording $7.74bn. As of 2016, Ontario has surpassed Alberta to become the fastest-growing provincial economy in Canada. (en)
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  • The economy of Ontario is rich and diversified. Ontario is the largest economy in Canada, with a GDP nearly twice that of neighbouring Quebec, which is Canada's second largest economy. Though manufacturing plays an important role in Ontario's economy, it is the service sector that takes up 76.9%. Ontario's deficit was CAD$9.8 billion in 2012-2013 (1.5% of the GDP), and is expected to rise to CAD$11.7 billion in 2013-2014. As of 2016, Ontario has surpassed Alberta to become the fastest-growing provincial economy in Canada. (en)
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  • Economy of Ontario (en)
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