Market Information
As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban.
The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US. Given its great natural resources, skilled labor force, and modern capital plant, Canada enjoys solid economic prospects. Top-notch fiscal management has produced consecutive balanced budgets since 1997, although public debate continues over the equitable distribution of federal funds to the Canadian provinces.
Exports account for roughly a third of GDP. Canada enjoys a substantial trade surplus with its principal trading partner, the US, which absorbs 80% of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. During 2007, Canada enjoyed good economic growth, moderate inflation, and the lowest unemployment rate in more than three decades.
Canadians are very sensitive to being confused with the United States, the converse is not such a problem. Be very careful of this one, especially if coming from a country other that the US as the Canadian accent (if English) is not that easy to distinguish, although totally obvious to US residents and Canadians. Do not refer to the US as America, this is the name of the continent of which Canada is by far the largest country.
Canada for the British is noticeably more British than the USA. The English language differences are less, measurements are metric, and the Queen is on the money. Quebec is French speaking, out of the tourist spots and large cities you will encounter people who do not speak English. All of Canadian government information is bilingual.
To find out more about how Export To Canada can help your business, please call us on +44 (0) 870 879 5332
or e-mail us at info@exporttocanada.net
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