Canada- Business Opportunities
Global India Business Forum is honoured to have connected with the Counsel General of Canada and has presented the country with an Honorary Membership in the presence of Dr. Jitendra Joshi, Global President and Ms. Deepali Gadkari, Global Coordinator. Realizing the strengths of Global India Business Forum and the Consulate of Canada and conscious of the benefits to be derived by both organizations and its members through this mutual understanding, both parties will be associated with each other in mutual cooperation to facilitate mutual investment, trade and economic cooperation complimented by knowledge sharing, training, certification and networking.
Canada is a country situated in the northern part of North America and has ten provinces and three territories. These ten provinces and three territories extend from the Atlantic Ocean all the way to the Arctic Ocean, crossing the Pacific Ocean. It covers a distance of 9.98 million sq. km. making Canada the second largest country in the world in terms of land area covered by a country. The capital of Canada is Ottawa and there are three large metropolitan cities which are Toronto, Montreal and Vancouver. Canada is a parliamentary democracy and a constitutional monarchy, which means that the royal monarch will be able to exercise its powers within the legal framework of a country. The country ranks highest among the countries when it comes to government transparency, civil liberties, human rights, quality of life, economic freedom and education standards. Canada is a developed country with one of the highest nominal per-capita income globally and also ranks high in the Human Development Index (HDI). It also has the 10th largest economy in the world.
Business Opportunities in Canada
Canada exports a lot of mineral fuels like crude oil to other countries and crude oil business is a very lucrative one as fuels like diesel, gasoline and petrol can be extracted from this raw and unrefined form of oil from nature. Canada also exported a lot of precious metals like gold in the year 2019 thus this is also a good business opportunity for the other countries to cash in on. Tourism is another vital sector for Canada as there are many tourist attractions in the country too. So other countries might also want to invest in its tourism sector, thus further enhancing the business opportunities of Canada.
Exports and Imports in Canada
Canada saw its exports increase by 17.1% in June as compared to the last month, which brought the total exports to $39.7 billion and it also beat market expectations which were at $38.8 billion. On the other hand, imports of the country increased by 21.8% and were valued at $42.9 billion which was above the market expectations of $41.3 billion.
Top Exports of Canada
Canada mainly exported energy products which formed 19% of total exports followed by motor vehicles and parts and consumer goods among others. The main export partners for Canada are the USA, the EU, China, Japan and Mexico.
Top Imports of Canada
Canada’s main imports were consumer goods which formed 20% of total imports followed by motor vehicles and parts, electrical equipment, plastic and rubber products. Canada’s main import partners are the USA, the EU, China, Mexico and Japan.