Doing Business in Canada

      

Canada has inherent expertise and available capital in the Mining and Energy, Agriculture and Agri food, ICT, Engineering and Education while Serbia needs to develop its Mining and Energy, Agriculture and Agri food, ICT, Engineering and Education; however, Serbia lacks the capital and a strong resource base and this is where most significant partnership/business opportunities currently lie.

 

Canada Key Figures

 

Canada is located in Northern North America, bordering the North Atlantic Ocean on the east, North Pacific Ocean on the west, and the Arctic Ocean on the north.

A land of vast distances and rich natural resources, Canada became a self-governing dominion in 1867 while retaining ties to the British crown. Economically and technologically, the nation has developed in parallel with the US, its neighbor to the south across the world’s longest unfortified border. Canada faces the political challenges of meeting public demands for quality improvements in health care, education, social services, and economic competitiveness, as well as responding to the particular concerns of predominantly francophone Quebec. Canada also aims to develop its diverse energy resources while maintaining its commitment to the environment.

 

Area

 

total: 9,984,670 sq km

country comparison to the world: 2

land: 9,093,507 sq km

water: 891,163 sq km

 

Land boundaries

 

total: 8,893 km

border countries: US 8,893 km (includes 2,477 km with Alaska)

note: Canada is the World’s largest country that borders only one country

 

Elevation extremes

 

lowest point: Atlantic Ocean 0 m

highest point: Mount Logan 5,959 m

 

Natural resources:

 

iron ore, nickel, zinc, copper, gold, lead, rare earth elements, molybdenum, potash, diamonds, silver, fish, timber, wildlife, coal, petroleum, natural gas, hydropower

 

Ethnic groups:

 

Canadian 32.2%, English 19.8%, French 15.5%, Scottish 14.4%, Irish 13.8%, German 9.8%, Italian 4.5%, Chinese 4.5%, North American Indian 4.2%, other 50.9%

note: percentages add up to more than 100% because respondents were able to identify more than one ethnic origin

 

Population:

 

34,834,841

 

Major urban areas – population:

 

Toronto 5.573 million; Montreal 3.856 million; Vancouver 2.267 million; Calgary 1.216 million; OTTAWA (capital) 1.208 million; Edmonton 1.142 million

 

Government type:

 

a parliamentary democracy, a federation, and a constitutional monarchy

 

Administrative divisions

 

10 provinces and 3 territories*

 

Economy– overview

 

As a high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and high living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US, its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs about three-fourths of Canadian merchandise exports each year. Canada is the US’s largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its abundant natural resources, highly skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economic crisis, the economy dropped into a sharp recession in the final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada’s major banks, however, emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector’s tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010-13 and plans to balance the budget by 2015. In addition, the country’s petroleum sector is rapidly expanding, because Alberta’s oil sands significantly boosted Canada’s proven oil reserves. Canada now ranks third in the world in proved oil reserves behind Saudi Arabia and Venezuela.