SERVICE SECTOR - The service sector represents the largest share of Canada’s business activity, at more than 60% of the economy. Rapid technological progress has played a dominant role in the service sector’s development. According to Statistics Canada, the manufacturing, construction and utility sectors follow, banking for a combined 30% share. The largest manufacturing industries are: food and beverages; transportation equipment; pulp and paper; primary metals; metal fabrication; wood products; chemicals; and mineral fuels. Canada’s manufacturing companies use advanced state-of-the-art technology in electronics, robotics, computers and communications. Canada is also a leader in the development and application of fiber optics.

TRADE ENVIRONMENT – Canada actively participates in international trading. The United States is Canada’s largest trading partner followed by Japan, the United Kingdom and Germany. The signing of the General Agreement on Tariffs and Trade (GATT) in 1947, and more recently, the Free Trade Agreement in 1989, has helped encourage the evolving trade relationship, between Canada and the U.S. Then, by including Mexico in the 1992 signing of the North American Free Trade Agreement (NAFTA), Canada has become an integral component of the largest free trade area in the world, with over 360 million consumers. Canada takes part in a number of international trade, financial and economic organizations, such as the World Bank, the World Trade Organization, the International Monetary Fund, the Organization for Economic Co-operation and Development, the Financial Task Force on Money Laundering and others. Canada also takes part in the G-7 and the G-20.

ELECTRIC POWER: A CANADIAN SPECIALTY – Electricity has become a cornerstone of the Canadian economy and Canadian life. Canadians are the third highest per capita users of electricity in the world. The electric power industry in Canada has assets of CAD$148 billion (1997) and earns $35 billion in annual revenue. Interestingly, in terms of the global rank - Canada is the fifth largest producer of electric power in the world, generating 4 percent of the world’s total. Canada is the world’s largest producer of hydropower. Canada is the world’s second largest electricity exporter.

TIES WITH SOUTH ASIA - Regionally, Canada has had strong historical ties with South and Southeast Asia. Due to its position as a world leader in telecommunications, transportation, power, natural resources and education, Canada has been recognized as a logical partner to meet many of the region’s infrastructure needs. Canadian companies look forward to collaborating further with the South Asian private sector in areas such as research and development, and will continue to actively seek joint business opportunities, particularly in the information technology and the emerging e-commerce sectors, besides other infrastructure development. Canadian goods, services and investment will be an integral part of the region’s growth in the 21st century.

ONTARIO - With more than 11 million people, the province of Ontario is Canada’s economic powerhouse. It is strategically located in the heart of the CAD $10-trillion North American industrial market. The Electrical and Electronics Industries are primarily situated in Ontario. These industries represent about 2.5% of Canada’s GDP and employ approximately 130,000 people. Commercialization of research – moving products from the lab into the marketplace is a key component of a modern Ontario Economy. The province’s aerospace industry is comprised of more than 350 companies and provides over 23,000 skilled jobs.

Canada’s population (2nd quarter 2004) is 31,825,416. Covering 9,922,385 square kilometers (3,830,840 square miles), Canada is the world’s second largest country, next to Russia. Approximately 61.1% of the Canadian population is clustered around four major cities: Toronto, Montreal, Winnipeg and Vancouver. With one in four Canadian jobs dependent on trade, it is essential that Canada’s products and services be known throughout the international marketplace. Canadian exporters are praised for their quality products and competitiveness. Canada offers a diversified economy, world-class technologies, a highly educated workforce and an excellent international reputation. Canada is increasingly being recognized as a world provider of goods and services.

Disclaimer - Extreme care has been taken to ensure the accuracy of the information assimilated for the compilation of this website, however, the Canada-Sri Lanka Business Council does not assume liability for errors or omissions in connection with such information. Links to other websites are for the purposes of information only, and the Canada-Sri Lanka Business Council does not assume liability for the content of these sites.