Canadian economic history dominated by exploitation of natural resources in an export-driven economy. Economic growth dependent on demand for staples abroad. Long-term effect of staples dependent on linkages. John cabot (england) explores atlantic coast (1497) Jacques cartier (france) explores gulf of st. lawrence (1530s and 1540s) New france founded by samuel de champlain (1608) Confederation of the canadian british colonies (1867) All european powers fished the grand banks in 16th century. England and france dominated the cod fishery by 1600. Cod fishery eventually became a residential activity. Cod the dominant economic activity in newfoundland. 89% of labour force in fishery in 1858. 4)the fur trade in new france and the northwest. Fur trade dispersed over a wide geographic area. New france became a royal colony in 1663. Furs accounted for 90% of the value of exports from new france well into the eighteenth century. Output of furs increased from 40,000 kg in 1675 to 135,000 kg in 1700.