How Canada’s Three Major Exports Have Contributed To Canada’s Economy

1730 words - 7 pages

Last year, Canada received 443 billion dollars in revenue from exporting goods throughout the world. Almost 54% of that was covered by Canada’s three major exports (Stat Can.) - mineral products, transportation items, and electrical equipment and machinery. While preparing theses resources for export may be difficult, it is worth it. This essay will review the large role exports play in Canadian economy by being a immense source of income, allowing Canada to maintain robust trade routes and relations throughout the world, and providing Canadians with many jobs.

Canada’s ability to maintain a healthy income is important, for without it, Canada’s economy would not be functional. This is where Canada’s three main exports come into play. In 2013, Canada earned 133 billion dollars in exporting Mineral products, 123 billion dollars of that coming from mineral fuels, oils, products of their distillation, bituminous substances, and mineral waxes (Ibid.). With such a booming mineral industry, Canada receives a large income from mining that can be invested in schools, jobs, public projects, and many other important areas . Also, the earnings can be devoted towards small businesses looking to expand by using government funding programs, which helps support and expand Canadian economy (Mentor Works). Overall the money is used for activities that support the Canadian economy and make numerous people’s lives better.
This constant income has proven to support our economy by more than just improving life quality. Canada’s three main exports also allow Canada to keep a more balanced budget. With an extensive amount of money being put into importing goods from other countries, exporting gives Canada a fighting chance against the terrible tragedy that is an uneven budget, leaving only a few billion dollars to pay off instead of the sizable 475 billion dollars that was lost from importing goods in 2013 (Stat Can.). This ability to even out the budget has proven useful as it has left Canada with surplus amount of money to spend on things to improve the Canadian lifestyle.
The three exports also help because their income is consistent. As our exports continually bring money in it allows Canada to plan ahead and find more ways they can use the money gained from these purchased exports. This gives Canada an ability to complete long term projects that will, in the end, help improve Canada. This reliability provides Canada with a large, constant, income that will make completing future tasks easier. This income will also encourage businesses from other countries to open companies in Canada because of the consistent income we can provide them. Canada’s three major exports have helped supply Canada with the income it needs to retain its well-being and firm economy.

Canada’s trade around the world has become more crucial over time, and exporting, being a large component of this trade, has played a notable role in keeping these international trade routes steady.
A...

Find Another Essay On How Canada’s Three Major Exports Have Contributed to Canada’s Economy

how change in technology have Contributed to the Globalization of market and production

5648 words - 23 pages any, are there between Prestowitz's revolutions and the Industrial Revolution? What are the implications of these parallels for countries? For companies?2. Many Americans have been directly affected by the outsourcing of jobs to India. According to Prestowitz these jobs shifts are just the beginning. Where do you see the world economy in three years? In five years? In ten years?3. Prestowitz implies that the U.S. has allowed the global economy to

"Select a successful entrepreneur, and outline his management styles and leadership characteristics. Consider how these have contributed to success, and how they may contribute to failure."

1831 words - 7 pages international airline operating a fleet of Boeing 747 aircraft to New York, Miami, Los Angeles, Orlando, Boston, San Francisco, Washington, Dallas, and Tokyo.The airline was founded on the concept of offering competitive and high quality first class and economy services. It holds many major airline awards and recently earned "Airline of the Year Award" for the third consecutive year.Virgin Retail is part of Virgin Group which has since expanded into

How colonialism contributed to the lack of development in Mauritius.

859 words - 3 pages How colonialism contributed to the lack of development in Mauritius.Colonialism means the policy of acquiring colonies and keeping them dependant. The Dutch, France and Britain colonized Mauritius. The British were most successful in Mauritius, but colonialism depressed development.The Dutch period lasted from 1598 to 1710 but the first attempt to settle lasted only 20 years. Many attempts were made after that but with little success. They were

How to choose a major

892 words - 4 pages resident advisor. Are they happy with what they're studying? Are they inspired by the work they do? Do they look forward to class or dread it? Is the major what they'd thought it'd be? Why or why not? Try to find out what their interests are, and how they channel them through their major.Check out majors on PrincetonReview.com. We're continually adding new profiles of majors to the site. These include information on sample curriculum, the kind of

How to choose a major

643 words - 3 pages really love it and planning to go there in honey moon. Since I went there in 2008,I have not been in beautiful countries such as Europe countries that I visited. Every summer my dad surprise us to visited some countriesFirst, we went to Austria witch has become one of the most popular. By the time we arrived, I had not slept for 40 hours because I was excited. Every thing there are nature. So, we liked to woke up early to see the colorful in this

Explain how technology contributed to change in the everyday life of Australians in the 1950's

1125 words - 5 pages History Essay Explain how technology contributed to change in the everyday life of Australians in the 1950s. The 1950's was an incredible decade, with major technological advances that impacted nu- merous aspects of everyday life for Australians. The advances in transport not only assisted with faster and easier travel, but they allowed people to go further. In addition, cars were a much sought after status symbol of wealth, class and stability

"Animal Farm" by George Orwell. States how the animals contributed to animal farm

565 words - 2 pages have failed in the past and continue to fail today. So how can we as followers, contribute to our leader's success? Well, if we follow Boxers motto: "Napoleon is always right"that could be a good start. However, I think Boxer was a little too persuaded by Napoleon's speeches and so called "contributions" he made.One of Napoleons main followers was Boxer, the hard- working, dependable, and loyal horse. Boxer was never one of the animals to complain

How has the labour market 'deregulation' contributed to Australia's productivity growth?

1105 words - 4 pages How has the labour market 'deregulation' contributed to Australia's productivity growth?Labour Market Deregulation DefinitionLabour market regulation refers to the imposition of rules, whether informal or formal, impacting and controlling and restricting the behaviour in which labour can both operate and be dealt with. Sources of regulation and control come from not only the Government, Industrial Commissions other government institutions but

How has the discovery of Iceman contributed to our understanding of Neolithic Italy/Austria?

2225 words - 9 pages Iceman have significantly contributed to our knowledge of how the Neolithic people of Italy and Austria lived, where they traded their goods and took their herds to graze in the summer, the diet of Iceman's people, their clothing, the type of equipment and weapons they had, their technologies and cultural ways, like the body tattoos and jewellery. It has also given us insight into the rivalry between different villages, the different theories

The Things It Takes to Have a Successful Economy

1714 words - 7 pages people have in different regions have in life that peeks interest. This is the reason it is imperative to understand how trade works for an economy. Trade which is also known as Exchange is defined as the business of buying and selling or bartering commodities/ the act of giving or taking one thing in return for another (Webster, 2002). Therefore, to complete this action there must be a value placed on products to determine if the trade is

The Current Crisis in American Morality: How Big Business Has Contributed to, and Ought to Address, the Crisis.

4982 words - 20 pages practices of Big Business have contributed to this crisis in American morality and how business executives, as well as philosophers, ought to address the crisis in order to improve the moral climate in this country.There are eight features of Big Business that I would cite as being causal factors in creating our current moral crisis. The first has to do with how its philosophical foundations have been distorted. The American business climate rests on

Similar Essays

Canada’s Road To Autonomy Essay

682 words - 3 pages Canada has had a long and storied history especially in the 20th century. A key part of this history is Canada’s road to autonomy. The first step on this road is Canada’s role in fighting and ending World War I. The second step is Canadian involvement in the United Nations’ early days to the mid 1950’s. The last step on the road to autonomy is the Constitution Act, 1982. These three moments in time form the backbone of Canada’s road to autonomy

How Ottawa Was Chosen To Be Canada’s Capital

564 words - 2 pages When a city of Ottawa was chosen as Canada’s capital On December 31, 1857 it first originated as a request to find a new capital, from the fathers of confederation to Queen Victoria, and by her officials here in Canada and the United Kingdom. In addition to have a new capital there was a need to have a seat of the government that was protected from attack from the Americans, As a result Ottawa was chosen, as the nation’s capital. Today many

This Paper Will Describe Three Major Companies That Have Effective Public Relations.

1601 words - 6 pages AbstractPublic Relations is a vital part of a comprehensive marketing program. Every company, whether large or small, should have a PR group in place for unanticipated moments. PR should also be used on a regular basis and partnered with other marketing and advertising essentials. This paper will describe three major companies that have effective public relations.IntroductionPublic Relations adds power to your overall company image. When major

The Canadian Spirit: Canada’s Contribution To The World

834 words - 3 pages developing nation but also all the nations in the world. One only need to glance into recent history to discover nations such as India and China go from seemingly-backwards and war-torn societies to major powers in today’s world. The Chinese is quickly catching up to Canada in trade with the United States (United States Census Bureau), traditionally Canada’s strongest economic ally. For instance, over eleven billion U.S. dollars of electrical