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.

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