Canada’s Economy
A Trading Nation
Trading is the foundation of Canada’s economy.
In 1988, Canada enacted free trade with the United States.
In 1994, Mexico joined NAFTA, covering 444+ million people and over $1 trillion in trade by 2008.
Global Standing
Canada is:
- One of the top 10 economies in the world.
- Member of the G8 (leading industrialized countries):
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Canada, U.S., U.K., Germany, France, Italy, Japan, Russia
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Main Industries
1. Service Industries
Employ more than 75% of working Canadians.
Jobs in:
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Transportation, Education, Healthcare, Construction, Banking, Retail, Tourism, and Government
2. Manufacturing Industries
Produce goods for domestic & international markets.
Examples:
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Paper, Aerospace tech, Automobiles, Food, Clothing, and Machinery
The USA is the largest international trading partner of Canada.
3. Natural Resources
Include:
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Forestry, Fishing, Agriculture, Mining, and Energy
Many Canadian regions still depend on resource development.
A large portion of Canada’s exports are natural resource commodities.
Canada–U.S. Economic Relationship
Canada & U.S. have the biggest bilateral trading relationship in the world.
Over 75% of Canadian exports go to the U.S.
Exports include:
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Energy products, Industrial goods, Automotive, Agricultural, Forestry, and fishing products.
Millions of people cross the border safely every year (the world’s longest undefended border).
Peace Arch (Blaine, WA) symbolizes close ties.
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Inscribed: “Children of a common mother” and “Brethren dwelling together in unity”