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A trading nation
Canada has always been a trading nation and commerce remains the engine of economic growth. As
Canadians, we could not maintain our standard of living without engaging in trade with other nations.
In 1988, Canada enacted free trade with the United States. Mexico became a partner in 1994 in the
broader North American Free Trade Agreement (NAFTA), with over 444 million people and over $1 trillion
in merchandise trade in 2008.
Today, Canada has one of the ten largest economies in the world and is part of the G8 group of leading
industrialized countries with the United States, Germany, the United Kingdom, Italy, France, Japan and
Russia.
Your Canadian Citizenship
Study Guide
Canada’s Economy
42
Canada’s economy includes
three main types of industries:
•
Service industries
provide thousands of
different jobs in areas like transportation,
education, health care, construction,
banking, communications, retail services,
tourism and government. More than 75% of
working Canadians now have jobs in service
industries.
•
Manufacturing industries
make products
to sell in Canada and around the world.
Manufactured products include paper,
high technology equipment, aerospace
technology, automobiles, machinery, food,
clothing and many other goods. Our largest
international trading partner is the United
States.
•
Natural resources industries
include forestry,
fishing, agriculture, mining and energy. These
industries have played an important part in
the country’s history and development. Today,
the economy of many areas of the country still
depends on developing natural resources,
and a large percentage of Canada’s exports
are natural resources commodities.
(Above)
Lumber truck
(From Left to Right)
Oil pump jacks in
southern Alberta
Atlantic lobster
Hydro-electric dam on
the Saguenay River,
Quebec