Economy History of Canada

Niagara Falls Ontario » Economy History Canada

Canada ranks sixth in world wheat production. Besides its forests have allowed the development of industry pulpwood, whose exports in 1973 were more important than that of wheat. Its main source of energy is the white trail, which has been fueled by the irregular topology, the seat number of power plants (in 1972 there were 49,944,000 kW).

The low cost of energy has enabled the creation of a large chemical industry: calcium carbide Shawiniagan Falls, cyanamide in Niagara Falls, synthetic rubber and explosives of Sarnia. The mineral riches are as important as the energy force in the economy of Canada, which holds a monopoly on the production of asbestos and nickel. It is the largest producer of zinc, extracted from Amos, Mattagami, Rouyn, Flin Flon, among others. It also produces large quantities of lead, copper, cobalt, tin, mercury, radium, and uranium.

The processing industries are geared mainly to the domestic market. Both the bending and economic exploitation in the lines of communication have played an important role. Its reserves of oil and natural gas (Rocky Mountains, Prairie, Central Alberta) are very important and offer great potential for economic development.

Exports represent about 5% of the world: motor vehicles, spare parts, paper pulp, wood, wheat, nickel, copper, crude oil, zinc, lead, fish and meat. Imported motor vehicles, machinery, non-agricultural, aircraft and parts, crude oil, steel, communications equipment and electrical, coal, iron, cotton, etc..

Since 1929, U.S. replaced Britain as far as investment is concerned and, in mid-1960, controlled 95 percent of the automobile industry, 89 percent synthetic rubber, 70 percent of oil and natural gas, 64 percent of the electrical equipment industry, 52 per cent of the mining. What makes government policy is on track, gradually, to reduce the excessive influence of the neighboring country.

After the United States, Canada ranks second in terms of living standards and production of manufactured goods per capita. In 1968, his lame per capita amounted to U.S. $ 2250, second only to the U.S., Sweden and Switzerland. However, Atlantic areas and rural areas are the most depressed and have a lower standard of living.