Not very many people may know this, but Canada is one of the wealthiest nations in the whole world. It is a member of the Organization for Economic Co-operation and Development. Canada is also the world's tenth largest economy. Since Canada has the highest levels of economic freedom in the world, it has closely resembled the United States in its pattern of production. As such, Canada has been able to economically establish itself in the global market.
Along with the other developed nations, Canada is a member of the elite G8 organization and has the lowest government debt burden of all. Moreover, Canada has 69 of the world's largest companies as recorded by Forbes Global in 2009. Thus with all these economic achievements, Canada is considered as one of the super powers of the world.
A lot of its economic stability can be attributed to its natural resources and industries. Most of these resources are exported by Canada to other countries in the world contributing to a high Gross Domestic Product. Some of the major exports of Canada include coal, copper, gold, and iron. These important minerals are mined in various parts of Canada. For some parts of Canada where agriculture is difficult, the economy is sustained with the various mine sources.
From among the trading partners of Canada, the United States is the largest. Likewise, Canada solicits the largest imports from the United States as well. In fact, Canada exported a total worth of $303.4 million of products and merchandise to the United States alone. Some of the major exports of Canada to the United States include passenger cars, finishing materials, engines and parts, plastics, lumber, aluminum, car parts and accessories, assembles cars, and petroleum products.
Correspondingly, Canada imports from the United States a number of goods as well. These goods amounted to a total of $230.3 million in 2006. These goods and merchandise are plastics, industrial engines, computer accessories, trucks, buses, special purpose vehicles, electric apparatus, industrial engines, and iron and steel mill products.
With these two countries' exchange of goods, Canada was able to benefit an approximate amount of $73 million in 2006. The trading ventures between these countries included some other products as well. In fact the exchange of these products has significantly increased from 2005. Additional exports include copper, nickel, oil field equipment, zinc and sugar.
On the other hand, some of the fastest growing imports from the United States include natural gas liquids, specialized mining equipment, non ferrous metals, nuclear fuel materials, and gold. Today, Canada continues to be one of the world's economic leaders, and one of the largest producers of some of the most important natural resources such as uranium, diamonds, lead, nickel, and gold.
Statistics show that export import Canada and canada export benefits Canada much more than its import.
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