CANADA'S ECONOMIC IDENTITY

BBB Canada's Economic Identity2 Historically Canada traded its primary resources to countries who then converted them into semi- manufactured goods/end products and resold them to their own populations or the international marketplace Canada traded its primary resources to countries who then converted them into semi- manufactured goods/end products and resold them to their own populations or the international marketplace Canada often bought back the end-goods made from the resources it sold Canada often bought back the end-goods made from the resources it sold

BBB Canada's Economic Identity3 Capital intensive industries are based on primary resources because they require a large investment of money in machinery, but are not labour intensive (require a large number of skilled workers) Capital intensive industries are based on primary resources because they require a large investment of money in machinery, but are not labour intensive (require a large number of skilled workers)

BBB Canada's Economic Identity4 Currently International trade shift: International trade shift: –Primary resource-based exports fell from 43% of total merchandise exports to 18% (since 1970)  Fewer primary resources are being exported –Semi-manufactured and end-product exports increased from 57% to 82% of total merchandise exports  More manufactured products are being exported

BBB Canada's Economic Identity5 The extraction of natural resources is increasingly adopting advanced technology, requiring skilled workers and forcing wage rates higher in order to attract skilled and knowledgeable workers The extraction of natural resources is increasingly adopting advanced technology, requiring skilled workers and forcing wage rates higher in order to attract skilled and knowledgeable workers

BBB Canada's Economic Identity6 Canada’s service trade is also growing fast because investments in research and development and quality education contribute to our growing leadership Canada’s service trade is also growing fast because investments in research and development and quality education contribute to our growing leadership

BBB Canada's Economic Identity7 CANADA’S MAJOR INDUSTRIES

BBB Canada's Economic Identity8 Primary Industries Take raw materials from nature, process them slightly, and sell them to other businesses that use them to make other products or to provide services Take raw materials from nature, process them slightly, and sell them to other businesses that use them to make other products or to provide services

BBB Canada's Economic Identity9 4 major primary industries in Canada – 4 major primary industries in Canada – –agriculture (animals), –fishing and trapping (fish and wild animals), –forestry and logging (wood), –energy and mining (metals, minerals, electricity)

BBB Canada's Economic Identity10 Makes finished products out of raw materials Makes finished products out of raw materials –Includes the processing and fabrication sectors Processing: form of a product altered (milk to cheese) Processing: form of a product altered (milk to cheese) Fabrication: building or constructing something from raw materials (Wood to desk or housing) Fabrication: building or constructing something from raw materials (Wood to desk or housing) Labour intensive industry: requires large number of skilled or unskilled workers Labour intensive industry: requires large number of skilled or unskilled workers Manufacturing

BBB Canada's Economic Identity11 Manufacturing Dominant Industries in Canada Dominant Industries in Canada –Processed food (meats, cookies, etc.), Beverages –Rubber, Plastic, Leather –Textiles (fabrics), Wood –See pg for the rest of this list

BBB Canada's Economic Identity12 Services Do not sell tangible items Do not sell tangible items Include activities that are performed by experts who can do what untrained people cannot do (pilots, mechanics, accountants, engineers, doctors, teachers, architects, builders, and chefs) Include activities that are performed by experts who can do what untrained people cannot do (pilots, mechanics, accountants, engineers, doctors, teachers, architects, builders, and chefs)

BBB Canada's Economic Identity13 Fastest growing sector is consulting services (advice) Fastest growing sector is consulting services (advice) Dominant industries in Canada Dominant industries in Canada –Commercial services –Travel –Transportation –Government

BBB Canada's Economic Identity14 Canada’s top 10 biggest companies (Profit) 1 2Royal Bank of Canada7,442,000Montreal & Toronto 1 2Royal Bank of Canada7,442,000Montreal & TorontoRoyal Bank of CanadaMontrealTorontoRoyal Bank of CanadaMontrealToronto 2 Bank of Nova Scotia6,466,000Toronto 2 Bank of Nova Scotia6,466,000TorontoBank of Nova ScotiaTorontoBank of Nova ScotiaToronto 3 2Toronto-Dominion Bank6,367,000Toronto 3 2Toronto-Dominion Bank6,367,000Toronto Toronto-Dominion BankTorontoToronto-Dominion BankToronto 4 3Bank of Montreal4,115,000Montreal & Toronto 4 3Bank of Montreal4,115,000Montreal & TorontoBank of Montreal TorontoBank of Montreal Toronto 5 1Imperial Oil3,766,000Calgary 5 1Imperial Oil3,766,000CalgaryImperial OilCalgaryImperial OilCalgary 6 2CIBC3,339,000Toronto 6 2CIBC3,339,000TorontoCIBCTorontoCIBCToronto 7 2Suncor Energy2,783,000Calgary 7 2Suncor Energy2,783,000CalgarySuncor EnergyCalgarySuncor EnergyCalgary 8 5BCE Inc.2,763,000Montreal 8 5BCE Inc.2,763,000MontrealBCE Inc.MontrealBCE Inc.Montreal 9 3Canadian National Railway2,680,000Montreal 9 3Canadian National Railway2,680,000MontrealCanadian National RailwayMontrealCanadian National RailwayMontreal 10 2Potash Corporation of Saskatchewan2,668, Potash Corporation of Saskatchewan2,668,000Potash Corporation of SaskatchewanPotash Corporation of Saskatchewan