CANADIAN TRADE 1994
Business Strategy
Canada has often been described as a trading nation but not a nation of traders.At present,only one in four firms exports anything,and over half of all Canadian exports derive from 50 companies.Therefore,it is Canadian Goverment's major priority to develope international trade. Today,exports of goods and services account for almost one third of Canada's gross domestic product, a level surpassed only by Germany among G-7 countries.While Canadians may take confort in this fact,and often see themselves as global traders,the reality is that Canada has been a truly successful trader only with United States. Currently,over 80% of Canadian merchandise exports are destined for the United States of America.The U.S. also continues to be the major source of international business investment in Canada and the destination of much of Canadian direct investment abroad.As with exports,the diversification of the sources and destination of investment is a priority. Clearly,Canada must build on its sucess in the U.S. market and broaden its trade,technology and investment relations,particularly in its traditional European market and with the rapidly expanding areas of the Asia Pacific,Africa, and Latin America.
Exports by country:
Exports Re-Exports Total
( $ ,000 )
North America 16,202,109 1,045,112 17,247,221
South America 181,989 23,658 205,647
Carribean etc 203,338 4,203 207,338
Western Europe 1,456,717 28,131 1,484,849
Other Europe 24,910 2,287 27,197
Middle East 168,519 4,288 172,807
Africa 114,153 417 114,571
Asia 1,777,407 52,471 1,829,879
Oceania 85,601 10,036 95,638
Total Exports: 20,214,747 1,170,607 21,385,355
Statistics Canada - Cat 65-004
Imports by country:
Total-Imports
( $ ,000 )
North America 12,746,372
South America 277,455
Carribean etc 463,643
Western Europe 2,040,436
Other Europe 92,128
Middle East 86,338
Africa 109,805
Asia 2,512,651
Oceania 127,368
Total Imports: 18,456,201
Statistics Canada - Cat 65-007
