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Top 14 Industries in Canada Contributing It’s Economy

August 26, 2020BY Faisal Mustafa

Industries are the backbone of a country that contributes most to development. For example, Canada is a country with a big economy that is very friendly to its industries. It is taking new steps every day to grow the economy more.

This country produces raw materials as well as finished products and techs. The factories produce international quality products to fulfill their own need. Besides, they do the export too. Both the local mills and global factories contribute to the economy.

All these take part to create a huge GDP. So let’s see what type of industries run in this country and what these factories produce. We will try to find out some of the top industries in Canada.

Top 14 Industries in Canada

Canada has almost every kind of industry and is expanding gradually. They are giving more and more facilities to grow them. Here we have focused on some of the sectors in Canada.

1. Agriculture

Canada’s agricultural sector is one of the biggest contributors to the economy. This country produces a lot of wheat and grain. They cover their own needs and export a surplus amount too.

They export agricultural products mostly in America, and they are also a member of the World Trade Organization. So they practice fair trading. Such that Canada’s pricing does not influence the price of crops and grains in other states.

In 2015, a revenue of 49 billion dollars was earned from the agriculture and agro-food manufacturing sector. The agricultural sector in Canada is growing steadily day by day.

2. Service Sector

Maple Leaf’s country has a vast service sector. Three fourth of the Canadian population is directly or indirectly connected to this sector. The service sector provides 70% of the Canadian GDP.

3. Retailers

12% of people in this country work in retail shops. These shops are mainly situated in different shopping malls. Recently, the number of big-box stores in this country is increasing very much.

For example, the United States Wal-Mart, Best Buy of the United States, Real Canadian Superstore, etc. have opened in Canada.

4. Business Service

Business service is the second-largest service sector, but only a few Canadians work in this sector. It includes the financial service, real estate, and communication industries.

In recent times it is increasing rapidly. However, this is growing mostly in Toronto, Montreal, and Vancouver. These are the major urban centers in Canada.

Read Also: Canada Business and Investment Immigration Visa

5. Health Care Industry

In the service sector, the health sector is the third biggest. But the health care industry is mostly controlled by the provincial and state governments.

6. Education Sector

The education service is also big as Canada has many top-ranked universities. For example, the University of Toronto, University of British Columbia, the McGill University, etc. Students from abroad come here to pursue their higher studies. But this sector is mostly influenced by the government.

7. Tourism

There are many tourist spots in Canada. For example, Banff National Park, Stanley Park, CN Tower, Kasper National Park, etc. Each year many international visitors come to these spots and amuse themselves. Most visitors come from their neighbor country, the United States.

And most interestingly, casino gaming is the most growing component of this sector. In 2001, 5 billion dollars profit came from the casino for the Canadian government. About 41,000 people worked in different casinos in that year.

8. Entertainment

The film industry of this maple leaf country is growing fast. Entertainment industries and television industries create content for both local and international markets.

9. Energy

Canada has many low-cost energy sources. They also have many oil and gas mines due to their geographic location. As this country has enough green energy, they export oil and gases. Oil and energy industries contribute a lot to their economy.

From 2012 to 2016, about 17.8 billion dollars in revenue was earned from the energy sector per year. In 2017, the energy sector contributed about 10.6% to the nominal GDP. There are more than 300 publicly traded Canada based energy companies over more than 70 countries.

10. Oil & Gas

Canada owns a lot of gas and oil mines which helps them to become one of the top energy-producing countries. They have the third-largest oil reserve in the world due to Athabasca oil sands. They are the 4th largest natural gas producer and 3rd largest crude oil reserve country after Saudi Arabia

Most of the oil and gas mines are in Alberta and the Northern Territories. Some of them are also in British Columbia and Saskatchewan.

11.  Electricity

Canada generates energy from not only minerals but also renewable resources. This state produces a lot of hydroelectricity and becomes a leading country in producing hydroelectric power.

Canada is the 2nd largest hydroelectricity producer after China. 475 hydroelectric dams are producing 70,000 MW electricity which is 60% of their electricity.

Canada is expected to spend 55 to 70 billion dollars in producing hydroelectricity over the next twenty years. Canada also produces solar and wand energy. So overall, more than 81% of the electricity need comes from renewable sources.

12.  Mines

Canada has a lot of mines. Besides oil and gas mines, they produce aluminum, steel, iron, copper, nickel, etc. The country also has a few gold and diamond mines.

13.  Technology

Canada is advancing day by day in the technology sector also. They offer start-up visas to start new businesses in Canada.

14.  Export Industries

Canada has diverse export industries. They supply raw materials as well as finished products. They are-

  1. Gold Industry
  2. Lumber Industry
  3. Primary Aluminum Production
  4. Iron Ore Mining
  5. Copper Ore and Nickel Ore Mining
  6. Bituminous Coal Underground Mining
  7. Crude Petroleum And Natural Gas Extracting Mills
  8. Vegetable Oil Mills
  9. Paper, Pulp, and Paperboard Mills
  10. Wheat Farming
  11. Pharmaceutical And Medicine Manufacturing
  12. Electric Power Generation
  13. Automotive Industry
  14. Aviation Industry

End Notes

Canada has a diverse source of dollars. They have mines of iron, nickel, aluminum, etc. They also have had and oil mines. These help them a lot to become rich fast. All these industries in Canada, helping them to become the next superpower.

Besides they generate green energy from water dams, windmills, and solar panels. Moreover, they have a significant service sector. Agriculture also contributes much to its economy. And they are advancing their technology sector day by day to keep pace with the forwarding world.

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