cover image: The Importance of International Trade to the Canadian Economy

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The Importance of International Trade to the Canadian Economy

17 Oct 2016

In 2015, exports accounted for 31.5% of GDP, up from 25% before Canada signed a series of free trade agreements starting in 1988. Exports were 36% of GDP before the global recession began in 2008. Value-added exports, which subtract the imports embedded in exports, represented 22.2% of GDP. Exports directly and indirectly accounted for 2,942,400 jobs in Canada in 2011 according to Statistics Canada, or 16.7% of all employment. Imports were the equivalent of 33.8% of GDP in 2015. About 26% of imports are used as inputs into production in Canada, notably in export-intensive sectors like autos and high-tech. The effective tariff rate on imports is 1%, down from 3.5% before the push to more free trade began in the late 1980s.
energy european union government politics economics economy export recession free trade agreement canada balance of payments business culture employment free trade energy industry prices protectionism nafta canadian economy tpp protectionist gdp economy of canada
ISSN
22918620
Pages
13
Published in
Vancouver, BC, CA

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