How Canada’s Three Major Exports Have Contributed to Canada’s Economy

1318 Words3 Pages
bulb-icon

Recommended: The positive economic effects of tourism

Last year, Canada received 443 billion dollars in revenue from exporting goods throughout the world. Almost 54% of that was covered by Canada’s three major exports (Stat Can.) - mineral products, transportation items, and electrical equipment and machinery. While preparing theses resources for export may be difficult, it is worth it. This essay will review the large role exports play in Canadian economy by being a immense source of income, allowing Canada to maintain robust trade routes and relations throughout the world, and providing Canadians with many jobs.

Canada’s ability to maintain a healthy income is important, for without it, Canada’s economy would not be functional. This is where Canada’s three main exports come into play. In 2013, Canada earned 133 billion dollars in exporting Mineral products, 123 billion dollars of that coming from mineral fuels, oils, products of their distillation, bituminous substances, and mineral waxes (Ibid.). With such a booming mineral industry, Canada receives a large income from mining that can be invested in schools, jobs, public projects, and many other important areas . Also, the earnings can be devoted towards small businesses looking to expand by using government funding programs, which helps support and expand Canadian economy (Mentor Works). Overall the money is used for activities that support the Canadian economy and make numerous people’s lives better.
This constant income has proven to support our economy by more than just improving life quality. Canada’s three main exports also allow Canada to keep a more balanced budget. With an extensive amount of money being put into importing goods from other countries, exporting gives Canada a fighting chance against the terrible trag...

... middle of paper ...

...dataTransformation=7§ionLabel=V+-+Mineral+products&provId=1&freq=12&refMonth=12&lang=eng&refYr=2013>
“Merchandise imports and exports between "Canada" and "World", by Harmonized System section.” Statistics Canada. N.p., March 2014. Web. 1 March 2014

“Suncor Energy Annual Report” Suncor. Suncor Energy Inc., n.d.. Web. 27 February 2014

“Trade Confidence Index Fall 2013 Infographic.” EDC. N.p., n.d.. Web. 27 February 2014.

World Book Inc.. The World Book Encyclopedia 2014. Chicago: World Book, Inc.. 2014. Print

Show More
Related

  • Canada Is Becoming Too Americanized

    933 Words  | 2 Pages

    Canada and the United States are the largest trade partners in the world. It is the result of the geographical position of two countries and the free trade between two countries. It should be a great thing for the economies of both countries, but since the North American Free Trade Agreement was signed, American businesses almost took over the Canadian economy. When the American companies started to make more business in Canada, it brought more jobs and money to the country in the short-term. But as a long-term effect Canadians became even more depended on the U.S. as the American companies started dominating Canadian companies in Canada. Also, today Canadian manufacturers have little protection from the government when ch...

    Read More

  • Wawa's Expansion into Canada

    1325 Words  | 3 Pages

    Our group chose Canada because we feel that there are many similarities between our culture in the United States and the culture in Canada. Comparing the economies of these two nations shows that they are nearly identical. If combined, Canada’s and the United States’ economies would be the world’s largest economy; therefore, it would be advantageous to incorporate in both nations.

    Read More

  • Analysis of Tim Hortons

    557 Words  | 2 Pages

    The global economy has been recovering from the financial crisis which occurs in 2008, then has a weak growth for most developed countries over 2012 and 2013. But economic activity in Canada has expanded at a faster pace than most other major advanced countries in 2012; however, economic performance in Canada has been unsteady throughout 2013 (The Economic review, 2013). After the last quarter in 2010 GDP growth rate grows rapidly, the GDP grows slowly but steadily in 2012 which remains at around 3 percent. Real GDP growth rate in Canada grows slowly in the first quarter of 2013, but increased by 5 percent in the second quarter ,then remains the same level until the first quarter of 2014 (Statistics Canada, 2014). In 2014, the Canadian government take a series economic action plan as a guide for the economy development such as improving investment conditions, ...

    Read More

  • Impact of World War 2 on Canada

    461 Words  | 1 Pages

    Before the war, Canada’s most important sector in its economy was agriculture. However, this was changing drastically after and during the war as industry began to take over as being more important. Canadian production of war material, food supplies, and raw materials had been crucial during the war. After the war, it was only natural that big investments were being made in mining, production, transportation, and services industries. Canadian cities were becoming very important contributors to the economy. This was also bringing in waves of post-war immigration, the backbone of Canada’s multicultural society we know today.

    Read More

  • Analysis Of The Softwood Lumber Dispute

    1204 Words  | 3 Pages

    ...an business world at odds with the free trade agreement that was drafted in 1987, with the aim of encouraging better trading through pulling back the different trade barriers that are used in international trade. The softwood lumber dispute is however straining relations between Canada and the Unites states. It has put the 1987 agreement into the background and dashed any hopes of better trading relations between the two countries. Canada is a major supplier of softwood and the united state is a major market, which it is at risk of losing. Therefore the achievement of Canadian objectives remains elusive at best. Bibliography US-Canada Free Trade Negotiations (II): The Canadian Dilemma, http://www.ksgcase.harvard.edu/case.htm?PID=862 Keith Jones, (7 September 2001) “Lumber dispute strains Canada-US relations, http://www.wsws.org/articles/2001/sep2001/lumb-s07.shtml

    Read More

  • The Canada-U.S. Trade and Economic Relationship

    1583 Words  | 4 Pages

    Ultimately, however, it is Canadian exporters – of all sizes and in all industries – that make this relationship as successful as it is. In 2003, Canada exported approximately C$365 billion worth of goods and services to the U.S., while it imported nearly C$280 billion from its southern neighbour. In fact, U.S. exporters sold more goods to Canada in 2003 than they did to the European Union.

    Read More

  • The American Influence in Canadian Popular Culture

    1937 Words  | 4 Pages

    In the 1990s, 95% of feature films, about 70% of retail sales of sound recordings, 60% of television programs come from abroad, overwhelmingly from the United States. 80% of magazines, 70% of books come from abroad, of which overwhelmingly from the United States especially in the educational publication, only 25 %of educational book publishers in Canada were Canadian. At the supermarkets, the shops such as McDonald’s, Wal-Mart chain stores went into Canada on a ...

    Read More

  • The Need to Address Poverty in Canada

    1003 Words  | 3 Pages

    Poverty is a serious issue in Canada needs to be addressed promptly. Poverty is not simply about the lack of money an individual has; it is much more than that. The World Bank Organization defines poverty by stating that, “Poverty is hunger. Poverty is lack of shelter. Poverty is being sick and not being able to see a doctor. Poverty is not having access to school and not knowing how to read. Poverty is not having a job, is fear for the future, living one day at a time”. In Canada, 14.9 percent of Canada’s population has low income as Statistics Canada reports, which is roughly about two million of Canadians in poverty or on the verge of poverty. In addition, according to an UNICEF survey, 13.3 percent of Canadian children live in poverty. If the government had started to provide efficient support to help decrease the rates of poverty, this would not have been such a significant issue in Canada. Even though the issue of poverty has always been affecting countries regardless of the efforts being made to fight against it, the government of Canada still needs to take charge and try to bring the percentage of poverty down to ensure that Canada is a suitable place to live. Therefore, due to the lack of support and social assistance from the government, poverty has drastically increased in Canada.

    Read More

  • Canada's Appealing Brand Identity

    420 Words  | 1 Pages

    One of the problems Canada faces in establishing its brand identity is proximity to the USA. Moreover, Canada is not recognized yet as an economy fired by information technology, fuelled by telecommunications, and fortified by the fifth largest aerospace industry in the world. Brand Canada has a weak image in Japan. A recent survey in Japan revealed that Canada was perceived as a dull and “ stodgy” country, with only 3% of respondents indicating that Canada was a source of high technology. (Marketing 495).

    Read More

  • The Homeless in Canada

    2623 Words  | 6 Pages

    Canadian Centre for Policy Alternatives, Alternative Federal Budget 2011, Report: Rethink, Rebuild, Renew (pg. 69, 70, 72, 75) Retrieved from: http://www.policyalternatives.ca/AFB2011

    Read More

  • Globalization: The European Union, the ASEAN Group, and NAFTA

    3413 Words  | 7 Pages

    Mckinney, Joseph. "US-Canadian Economic Relations, Twenty Years after the USA-Canada Free Trade Agreement." British Journal of Canadian Studies 23 (2010): 233-246.

    Read More

  • Canada

    2450 Words  | 5 Pages

    known for decades: it pays to invest in Canada. There is a government commitment to attract foreign direct investment. Canada's government provides a competitive, welcoming climate for international business. It is committed to fiscal responsibility, deficit reduction and job creation.

    Read More

  • Why Canada is a Great Place to Live

    388 Words  | 1 Pages

    In a developing country like Canada, new products are continually being produced for use within Canada and to be exported to. other countries for profit. Canada’s healthcare is superior; we are able to eliminate diseases. like the measles. Canada keeps up with the latest technology in medical equipment and medicines to treat Canadians.

    Read More

  • Technology In Canada

    644 Words  | 2 Pages

    Canada's economy has changed throughout the course of history regarding their change in technology which revolutionized the country drastically. Although it revolutionized the country, it brought Canada through many changes in both good ways and bad ways. Canada's workforce in the economy has also changed significantly regarding their employment over the years in terms of, the industrialization and mechanization of primary industries in the early 20th century, the construction of the mega projects in the post-war years, and through the automation and production up to the present.

    Read More

  • Shortage of Skilled workers

    1882 Words  | 4 Pages

    The shortage of skilled workers in the coming decade poses a serious threat to all aspects of the Canadian economy. Like all others, our economy is comprised of three major elements: primary products, secondary goods and services. My research indicates that primary products constitute just over 7% of Canada's GDP, secondary goods account for 21%, and the services comprise 72%. This distribution although heavily in favor of the service industry still shows the importance of the secondary/manufacturing industry in Canada's modern day economy. Taking into fact that since the late nineteenth century, Canada's centre of manufacturing is focused in two provinces, Ontario and Quebec. Consistently, year after year, Ontario contributes about 50% of the Canadian total of manufactured goods produced, measured by value, and Quebec 25%.

    Read More

More about How Canada’s Three Major Exports Have Contributed to Canada’s Economy

Open Document