The
Canadian market isn’t as large or diverse as some of the other markets in the
world, but the country has proven to be on the top of the industries they
manage. The following is a list of the top five industries prospering in
Canada.
Agriculture
Canada
is one of the largest suppliers of agricultural products in the world. Due to
its strategic location Canada exports most of its crops to the southern
countries of the continent.
Canada
practices fair-trading by ensuring whatever it puts on the market
agriculturally doesn’t influence the price of crops in other countries.
Canada’s agricultural sector is steadily growing every year and accounts for 8%
of the country’s Gross Domestic Product.
Energy
Due
to its abundance of oil and natural gas, Canada has become a world leader in
energy resources. Canada not only has the third largest oil reserve in the
world, it’s also a world leader in hydroelectric power with Quebec, Ontario,
and Saskatchewan all using vast amounts of hydroelectric energy.
Because
of the abundant energy resources available, Canada’s oil exporting and other
energy related products make up for 2.9% of the country’s GDP. Additionally,
Canada has adopted solar and wind energy production as the next major industry
in the energy sector ensuring continued prosperity.
Technology
Canada’s
technology industry is one of the strongest in the world. And, thanks to the
Canadian Startup Visa, which is a government Visa aimed at bringing in new tech
companies from all over the world, Canada will continue to change the world’s
technology landscape.
Services
Canada
still has a strong tourism industry with most of its international travelers from
the United States. In fact, Canada’s retail sector, which directly relates to
tourism, accounts for 12% of the GDP and that percentage is steadily growing.
Manufacturing
Although
the global financial crisis took its toll on Canada from 2008 to 2010, the
country’s manufacturing industries are on the rebound and make up for 14% of
Canada’s GDP.
American
and Japanese auto industries are attracted to Canada’s highly educated
workforce and low labor costs making it a go-to destination for automobile
manufacturing. Automotive parts production is one of fastest growing
manufacturing sectors in the country.
