Canada is one of the most economically developed countries of the world and the Role of Import on Trade and Industrialization in Canada cannot be denied. Facts indicate that Canada is the seventh-largest economy of the world. Its been estimated that most of the businesses in this country are privately-owned, though the government does play a major role in the health-care system and operates many services including transportation and utility companies. Thus, the Role of Import on Trade and Industrialization in Canada Is very important and in this case special mention needs to be made of Role of Import on Trade and Industrialization which also influenced the strategic economic conditions of the region. The Canadian economy is diverse and highly developed and similar to the American economy, although they are smaller in size. After, the end of World War II, the nation was transformed from a rural economy, based on agricultural needs, to industry and mining. The nation's economy has further transformed since the 1970s and services now provide the main economic output of the North America. The foundation of the Canadian economy is foreign trade and the United States is by far the nation's largest trade partner.
Statistics indicate that foreign trade is responsible for about 45 percent of the nation's gross domestic product (GDP). Free trade agreements between the 2 nations have increased trade by eliminating tariffs. Each day approximately US$1 billion worth of goods crosses the U.S.-Canadian border. The Role of Import on Trade and Industrialization in Canada is important to a great extent. To understand the scale of U.S.-Canadian trade, it is important to note that United States sends more products to Canada than it does to other Latin American countries. Despite the small size of its population, the Canadian economy is one of the most prosperous in the world. Its GDP per capita reflects Canadian workers' high wages compared to many other countries. Prospects for continued positive economic performance are good. Canada has a highly skilled and productive workforce. Import Trade in Canada is not a recent phenomenon, but has continued since ages. There are approximately 15.9 million people in Canada's workforce, and the nation has an unemployment rate of 7.6 percent, which was almost twice the American rate. The Eastern provinces of country is primarily popular for, marine industries, such as-- fishing, telecommunications, and energy production, which in other words form the main components of the economy. Quebec, the city of Montreal has become one of the nation's centers for high-technology firms, with the presence of large number of computer software companies. There is also a large industrial base which includes companies that produce pharmaceuticals, aerospace products, and telecommunications equipment. Ontario is the nation's main industrial center. About half of all Canadian manufactured goods are produced in Ontario which is further exported and even raw materials are imported. Import Duty in Canada is quite less. Thus, the Role of Import on Trade and Industrialization in Canada is very significant. | 
