Manufacturing and Canada’s Economy
pocosdotca on September 30th, 2012
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
