With one of the most educated workforce’s in the world, it is no wonder that Canada has a thriving manufacturing industry. The infrastructure remains well-developed since the 60’s which has promoted the creation of numerous public projects and allowed them to focus on developing technologies. As a result, Canada is one of the wealthiest nations in the world with a GDP of about $1.6 trillion.
Like many developed nations, the country is moving toward a service-based economy. Now, about 3/4 of Canadians work in the tertiary sector. However, the manufacturing industry also plays an important role in the economy accounting for 11 percent of the GDP. It is the second largest sector after real estate.
Canada has the third-largest oil reserves, and it is the fifth largest oil producer in the world. The United States is the primary purchaser of these products, buying almost all of Canada’s petroleum based exports. Canada is also the largest source of petroleum imports for the United States. Petroleum and natural gas products generate around $83.1 billion and there are dozens of international oil companies including Shell Canada, Imperial Oil, and Suncor Energy.
The food and beverage sector is the second most important industry, by sales, in Canadian manufacturing. Each year, it amounts to more than $107.1 billion dollars in revenue. Because of their stricter organic and all-natural regulation combined with governmental efforts to reduce GMOs, Canada is a primary producer of specialty health food items for US grocery stores. In fact, the US buys more than half of all of Canada’s food and beverage exports.
The primary manufacturing sector in Canada is transportation equipment. This area generates $112.6 billion annually. Canada is home to major auto makers from the World and several homegrown enterprises such as Magna International and Linamar Corporation. However, the country distinguishes itself in the production of aircraft. Bombardier Inc., for example, is a multinational aerospace and transportation company from Canada and the third largest manufacturer of commercial aircraft in the world.
Manufacturing is great for the Canadian economy. Perhaps its biggest asset is their highly-skilled workers. Canadian manufacturing jobs pay well and ask their employees to help innovate processes. It’s a feature that keeps manufacturing strong and ever-developing. In fact, manufacturing pays a higher net wage than any other sector of the economy. When the industry is a hotbed of talent and progressive movement, it creates strong economies that thrive for years to come.
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