This chart shows Canada's economy is about way more than oil
It's easy to paint Canada's resource-rich economy with a broad brush of oil and mineral exports, but the country's wealth is actually far more diverse.
According to the Bank of Canada's July 2016 Monetary Policy Report, the value of commodity and non-commodity exports are now almost even - and both remain firmly on the rise.
This is a positive sign for an economy that has come to rely heavily on its natural resources in recent years, after a strong currency reduced the competitiveness of its manufacturing sector.
But now that the Canadian dollar has fallen away from parity with the US dollar, there is hope that manufacturing is beginning to help the economy regain balance.
Source: Bank of Canada Monetary Policy Report - July 2016
Working towards a balanced economy
The recent upward trend in exports has been underpinned by a weaker Canadian dollar, which dropped from US$1.01 at the start of 2013 to US $0.72 by the end of 2015. As at November 2016, it was buying around US $0.74.
This fall has made non-commodity goods cheaper to foreign buyers.
So as energy exports fell from $114 billion in 2013 to $84 billion in 2015, according to Statistics Canada, foreign sales of motor vehicle parts lifted from $68 billion to $87 billion. Likewise, exports of consumer goods jumped from $52 billion to $70 billion over the same period.
The country's economic chiefs would like to see this growth in non-commodity trade continue, as is forecast by the Bank of Canada.
It's important to note the recent US election result has created some uncertainty around the relationship with Canada's largest trade partner. However, it's hoped the recent free trade agreement with Europe and others like it will help cushion any shifts in US trade policy.
The benefits of the weaker Canadian dollar will also take some time to fully flow through to the manufacturing sector. But in the interim, the expected lift in non-commodity exports may help Canada move towards a more balanced economy.
If achieved, this balance may attract more investment in the Canadian market.
If you're looking to access the Canadian market, consider the iShares MSCI Canada ETF (EWC), or broaden your search to other countries.
EXPLORE: Research other countries in the Worldviews series
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