Canada Export Import

in Canada
Canada is one of the top rung wealthiest countries in the world. It has an extremely stable economy and is not influenced by the presence of its largest neighbor ? the USA. Canada has an abundance of mineral resources and hence it has an extremely strong mining industry. This industry is thus a major contributor to the total GDP of Canada. Even then, the majority of the work force actually works in the service sector. As much as two-thirds of the total active work force is absorbed in this sector.

The country has a high Purchase Power Parity and the unemployment level is very low. Most of the Canadians earn well above the minimum wage and are generally prosperous. The country also produces a very important commodity in surplus that it exports ? power. Canada is one of the few major countries that can afford to export power. This should also be seen as an indicator of Canada's wealth and economic strength.

As a strong and healthy economy, Canada does not impose that many restrictions of import and export business but it is not very lax either. Its policies are mainly meant to safeguard against illegal and unethical activities and are not prohibitive in nature like some other countries. Canada is equally active in export and import but the markets vary very widely between the two activities, which is natural.

An exporter will be able to trade in lucrative markets such as metallurgy, iron and steel, power, minerals, manufactured goods etc. in Canada. These markets are high-gain markets and have the potential for large amounts of profit. However, these markets are also some of the most competitive ones and carry a high level of risk with them.

Exporters will have to carve out their own niche within the industry mainly because there is more profit to be made in niches in which the trader is an expert. General market trading is fine for starting out with but in the long run it is better to choose your own niches. For this, you can choose from the various goods that are manufactured in Canada or you can choose from the various raw materials produced here. Dealing in the power sector requires a lot of connections and it is mainly about brokerage and not so much as trading. Also, this sector often handled by government agencies.

Importers will have to understand the needs of the Canadian population before starting to trade. The Canadian population is wealthy and they expect a high standard of quality from imported goods. Also, since the majority of the working population is part of the service sector, it will be easier to make profits if you can capture this demographic.

This segment usually demands a number of consumer electronic and non-electronic items. These are always in great demand and with honest effort you can make sure that you are in a niche that sells well. You should also ideally understand your niche in order to profit more from your business.

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Gen Wright has 1 articles online

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Canada Export Import

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This article was published on 2009/09/07