Canada

Canada Overview

The early settlement and growth of Canada depended on exploiting and exporting the country’s vast natural resources. During the 20th century, manufacturing industries and services became increasingly important. By the end of the 20th century, agriculture and mining accounted for less than 5 percent of Canada’s labour force, while manufacturing stood at one-fifth and services, including transportation, trade, finance, and other activities, employed nearly three-fourths of the workforce. For many years Canada supported its manufacturing industries through protective tariffs on imported manufactured goods. As a result, many U.S. firms established branch plants in order to supply the Canadian market. Another cornerstone of Canada’s economic policy was the government’s provision of grants and subsidies to stimulate economic development in areas of slow growth. In the 1980s Canada began moving away from these two basic policies. Compliance with international rules on trade and the establishment of a free trade area with the United States (1989)—which with the implementation of the North American Free Trade Agreement (NAFTA) in 1994 came to include Mexico—reduced protection for Canadian manufacturing plants. Funding for regional economic development programs was also reduced. Some multinational companies have relocated their factories to countries where costs are cheaper, causing job losses and political dissatisfaction within Canada.

Canada’s economy is dominated by the private sector, though some enterprises (e.g., postal services, some electric utilities, and some transportation services) have remained publicly owned. During the 1990s some nationalized industries were privatized. Canadian agriculture is firmly private, but it has come to depend on government subsidies in order to compete with the highly subsidized agricultural sectors of the European Union (EU) and the United States. Several marketing boards for specific farm commodities practice supply management and establish floor prices.

Source: britannica.com

Landscape and growth

Global State of the Market Report

In 2022, the Advisory Board Centre mapped professionals currently serving on Advisory Boards. This assessment identified over 78,000 professionals on Advisory Boards in Canada, or 5% of the global Advisory Board market.

Advisory Board Landscape

Research has indicated that there is a thriving Advisory Board market within the region. Advisory Board professionals will have opportunities in the key market sectors including real estate, mining and manufacturing.  Also, the business sector including SMEs, present strong future growth opportunities.

Future Growth Opportunities

The sector will continue to mature as the best practice community and Advisory Board credentials are obtained within Canada.

Key Statistics

Population 38.62m
GDP $1,988,336 USD million
Labour Force by occupation
Agriculture1.51%
Industry19.25%
Services79.24%
GDP by sector
Agriculture1.7%
Industry24.6%
Services66.9%
Import $609,186 USD million
Export $611,121 USD million
Global ease of doing business rank 18th
Global ease of doing business score 79.29/100