Canadian Economics

Economics In Canada

http://www.kap-magazine.com/ineditor/201439101127798.jpg

Agriculture :

"The agriculture and agri-food industry contributes over $100 billion annually to Canada's gross domestic product (GDP). (That's more than the national GDP of 2/3 of the world's countries)." -http://www.agr.gc.ca

-5th largest agricultural exporter in the world

-industry employs 2.2 million Canadians

-Canda is world's third largest pork exporter

-AAFC helps farmers maximize profitability and competition

-food comes from sustainable farming practices

British Columbia: 

• Horticulture
• Dairy

Alberta:

• Cattle
• Grains and oilseeds

Saskatchewan:

• Grains and oilseeds
• Cattle

Manitoba:

• Grains and oilseeds
• Hogs

Ontario:

• Grains and oilseeds
• Dairy

Quebec:

• Dairy
• Hogs

Newfoundland and Labrador:

• Dairy
• Poultry

Prince Edward Island:

• Horticulture
• Dairy

New Brunswick:

• Horticulture
• Dairy

Nova Scotia:

• Horticulture
• Dairy

Yukon:

• Forage
• Greenhouse crops

Northwest Territories:

• Eggs
• Horticulture

Nunavut:

• Caribou, musk ox

Source: http://www.agr.gc.ca

Source: http://www.statcan.gc.ca/pub/96-325-x/image/Glance-logo.jpg

Manufacturing and Service Industries 

-manufacturing employees 1.7 million of Canada's population

-leading industries are: food, motor, coal, petroleum, and chemical production 

-aprox. 90,000 manufacturing facilities 

source: http://www.manufacturingourfuture.ca

Service industries are a large part of the Canadian economy. The economy is made up of the goods producing sector and service sector. As the population increases the number of individuals employed by the service industry increases. Organizations in the service industry are regulated by the government. "The fastest-growing occupations since the advent of computers have been the secretarial, clerical, sales and other service industry occupations." source: http://www.thecanadianencyclopedia.ca/en/article/service-industry/

Source:http://www.swc-cfc.gc.ca/images/uncsw-ccfnu/fig5-eng.gif

This graph shows that the largest industry is healthcare and social. Females dominate this field as well as retail, food service, and education. Manufacturing and agriculture are male dominated fields but still play a major part in the economy. Management and enterprise are the smallest fields in the Canadian workforce. Agricultural jobs are performed mostly by rural males, whereas services jobs are performed by rural females. Urban females are slightly more likely to be educators that rural females. 

Economic Challenges 

In the first half of 2015, a collapse in oil prices was detrimental to the Canadian economy. Mexico is a cheaper place to produce and it has the same capital and engineering skills. This is causing nations to rely less on Canda which is slowing their economy. 

"The Canadian dollar effective exchange rate index has declined 13 percent over the past year, punctuated by a 16 percent drop against the U.S. dollar."-http://business.financialpost.com/news/economy

Source:https://financialpostcom.files.wordpress.com/2015/08/mexico.jpg?w=620&h=342

This graph shows that Canadian exports have decreased within this year. This is due to the cheaper availability in Mexico leading nations to rely more on them than Canada. From 2000 till 2008 exportation was flourishing in the nation. Once the recession hit exports dropped dramatically. In 2015, exports drop to approximately 28 billion. This is below the current 30 billion in Mexico. The drop in exports that previously stimulated the economy is becoming detrimental to the production and profitability of the nation.