pocosdotca on September 30th, 2012
What role does the Manufacturing Industry have within the Canadian Economy?
The Canadian economy can be divided into 2 classes – the goods-producing industries and the service-producing industries. The goods-producing industries are generally associated with the production of tangible goods, and include: Agriculture, Mining/Oil/Gas, Construction, Manufacturing, and Utilities. The service-producing industries (15 in total) provide primarily services and include: Wholesale/Retail Trade, Real Estate, Transportation, Financial Services, Education, Health Care, etc. The complete list of the 20 industries that make up Canada’s economy can be seen here.
In 2011, Canada’s Gross Domestic Product (GDP) was $1,271 Billion [reported in 2002 dollars], the goods-producing industries accounted for $365 Billion (28.7% of total) and the service-producing industries accounted for $906 Billion (71.3% of total). Of the goods-producing industries, manufacturing is the largest within Canada and accounts for $162.1 Billion of GDP – 44.4% of the goods-producing industries’ output and 12.8% of the total GDP of Canada. Despite today’s prevailing attitude that ‘Manufacturing just doesn’t matter’ – it does and it contributes significantly to Canada’s economy.
Manufacturing represents 44.4% of the goods-producing industries output and 12.8% of Canada’s total GDP.
POCOs.ca connects Canadians with Canadian-made consumer goods. Consumer goods manufacturing is a sub-sector of the Manufacturing industries and we will discuss what this sub-sector of manufacturing looks like in Canada in a future post.
- Kevin
POCOs.ca
pocosdotca on September 23rd, 2012
What’s a POCO?
Great question! And you’ve come to the right place to get an answer. A POCO is a Product Of Canadian Origin – a term we use to describe products that bear one of the following three labels: “Product of Canada”, “Made in Canada”, or “Assembled in Canada”. A POCO product is a consumer product that has all or some of its manufacturing process occurring within Canada!
POCO: Product of Canadian Origin. A POCO includes products “Made in Canada”, “Assembled in Canada”, and “Products of Canada”.
What do these labels mean?
Let’s take a closer look:
Product of Canada: A product that has had it’s last substantial transformation happen within Canada, and the vast majority (>98%) of the manufacturing cost has been incurred in Canada. Products bearing this label are very Canadian.
Made in Canada: A product that has had it’s final substantial transformation happen within Canada, and the majority (>51%) of the manufacturing cost has been incurred within Canada. This label is generally used with a qualifying statement indicating that imported materials were used in the production of the product (ex. “Made in Canada of domestic and imported goods”). Products bearing this label are Canadian with a some international zest!
Assembled in Canada: Some of the manufacturing cost associated with producing the product have been incurred within Canada, but it is less than 51% and therefore can not bear the “Made in Canada” label. These products are more international than domestic.
The Competition Bureau provides a more in-depth (and long-winded) explanation of the above labeling categories here.
What is POCOs.ca?
Another great question which we will explore over the course of the next few blog posts. For now, here’s the Reader’s Digest Version:
POCOs.ca promotes POCOs – Products Of Canadian Origin and discusses the importance of buying locally on a national level – buying canadian!
- Kevin
POCOs.ca
