Imports and Exports Very useful forms of trade and how they help Canada Thrive
Imports Importing is a form of trade. To import means to bring or carry in from an outside source, especially to bring in goods or materials from a foreign country for trade or sale. An import is a commodity, article, or service brought in from abroad for sale. Money is lost because they the country which imports the commodity has to buy them. Without importing, Canada wouldn’t have many things which we would need. Many of the foods which Canada import are needed to have a healthy body, cannot be grown here and must be imported. Many of the cars we have are imported from other countries, and with out cars we would have to walk or find another way of transportation.
Goods Which Are Imported From Other Countries Goods which Canada imports are fruits and vegetables, crude petroleum, energy products, metals, chemicals, plastics, aircraft machinery, cars and car parts. Canada’s import value in 2000 was $356 486 000 000. Canada has more exports than imports which is a trade surplus which means Canada has a strong economy.
Exports Exporting is a form of trade. To export is to send goods or services to another country for sale. An export is a commodity, article, or service sold abroad. Money is gained because they sell the goods and servicesto the other country. Exports strengthen the economy. A balance with a little more exports than imports lead to a good economy. This is called a trade surplus. Without exporting then Canada’s money they spent on imports wouldn’t get replenished. Exporting is selling, so if you don’t sell then you won’t get money. And without money your economy would be very weak and be in a lot of financial trouble.
Goods and Services Which Canada Export to Other Countries Goods which are exported to other countries are lumber, fish, and minerals, automotive parts electronic components, cameras, clothes, toys and others. Services which are exported to other countries are banks, insurance firms, telecommunications companies, water and electricity, suppliers, translators, housekeepers and others. Canada’s export value in 2000 was $385 364 000 000. Canada has more exports than imports which is a trade surplus which means Canada has a strong economy.
Canada’s Top Trading Partners Canada has many partners of which they trade with but there are only a few of which the majority of the trading is done.And here is a list of the main trading partners, their share of total exports and share of total imports which means the percentage of all the products Canada exports to and the percentage of all the products Canada imports from. USA-%77.7 %52.4 China-%2.2 %9.8 UK-%2.7 %2.9 Japan-%2.3 %3.5 Mexico-%1.2 %4.1 Germany-%0.9 %2.9
The End I hope you learned a lot about imports and exportsand how important they are to Canada’s economy as well as the economies of other countries. Imports and exports are very important forms of trade and without them our countries' economies would dilapidate as well as our quality of life because of the insufficiency and availability of certain resources which could be obtained though importing.
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