The Canadian Economy

During the past 100 years, the growth of the manufacturing, mining, and service sectors has transformed the nation into a more industrial and urban economy, when it used to be more rural.Alberta, Canada has large oil and gas resources, giving it the world’s second-largest oil reserves, behind Saudi Arabia.Major oil fields are found in southeast Alberta (Brooks, Medicine Hat, Lethbridge), northwest (Grande Prairie, High Level, Rainbow Lake, Zama), central (Caroline, Red Deer), and northeast (Athabasca Oil Sands) Oil production is a major industry in Canada. It is the 6th largest oil producing country. Canada is the largest single source of oil imports into the United States.

Alberta, Canada is the largest producer of crude oil, synthetic crude and natural gas.Canada has a substantial export business of approximately $299 billion in motor vehicles, aircraft, telecommunications equipment; chemicals, plastics, wood pulp, fertilizers, timber, crude petroleum, natural gas, electricity and aluminum. The Canadian landscape is one that produces one of the worlds’ largest supplies of wheat, canola, and other grains. Because many towns are difficult to produce agriculture, Canada has found a way to use its unaffected land. It harvest the bountiful supply of timber.The Canadians are also the largest producer of uranium and zinc, and is a global source of many other natural resources, such as lead, aluminum, nickel, and gold. Canada has a large automobile and aeronautics industry, which is particularly important, centered in southern Ontario and Quebec.

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They have the third largest automobile exports, behind Japan and the U. S. Canada is home to 22 passenger and commercial vehicle plants that produce 2. 6 million units annually, with shipments valued at $60. 8 billion. Canada’s production-to-sales ratio = 1. 5:1.There are 36 high-volume assembly plants within a 500 km radius of the Windsor-Detroit border, which produced 6. 98 million vehicles in 2007. Canada is also close to all major U. S. auto R;D centers. Canada has an abundance of natural resources such as iron ore, nickel, zinc, copper, gold, lead, molybdenum, potash, diamonds, silver, fish, timber, wildlife, coal, petroleum, natural gas, and hydropower. This country was one of the world’s largest producers of uranium, for many years. Production is estimated to increase significantly, by 2013, with the opening of its new mines.