ECN 204 Chapter Notes - Chapter 17: Natural Rubber, Transpiration, Sports Equipment
8 Feb 2017
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Volume: exports are around 28% of canadian gdp, imports are about 29% of canadian gdp. Dependence: canada almost entirely dependent on other countries for bananas, cocoa, coffee, spices, tea, raw silk, tin, and natural rubber, many canadian industries rely on sales abroad: agricultural products, computers, chemicals, aircraft, automobiles, etc. Trade patterns: a trade surplus occurs when exports exceed imports. Canada had a trade surplus in goods in 2014: a trade deficit occurs when imports exceed exports. Canada had a trade deficit in services in 2014: canada imports some of the same categories of goods that it exports, called intra- industry trade, canada"s export and import trade is mainly with other industrially advanced nations. Germany, the united states, china, and germany had combined exports of over five trillion in 2014. Along with germany, other western european nations such as france, britain, and italy are major exporters.
