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Exploring the Canadian Market

Exploring the Canadian Market. Russ Sawchuk, Director North Carolina Canada Office. Topics. Canada: An Overview Why Canada Trade Facts Canada and North Carolina Key Areas Considerations Additional Resources. Canada – An Overview.

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Exploring the Canadian Market

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  1. Exploring the Canadian Market

    Russ Sawchuk, Director North Carolina Canada Office
  2. Topics Canada: An Overview Why Canada Trade Facts Canada and North Carolina Key Areas Considerations Additional Resources
  3. Canada – An Overview Population 33.4 million with 10 provinces and 3 territories GDP ($1.576 Trillion, 9th in the world) ~$39,600 GDP/capita Second largest country, 7th largest economy
  4. Why Canada? Affluent, industrial economy Similar business practices and attitudes Geographic proximity reduces transit times & costs 90% of Canadians live within 100 miles of the border Common language, corresponding time zones Open border Sound financial & distribution systems Canadian Sales should be at least 10% of your US Sales
  5. The Canadian Economy Canada’s Economy is growing again Stimulative monetary and fiscal policies Improved financial conditions Firmer commodity prices Rebounding business and consumer confidence Growth in domestic demand Canadian GDP Growth 3% for 2010 2.9% for 2011 [forecast] Canadian $ at par with US $
  6. Canada-U.S. Investment: One of the world’s largest investment relationships US FDI in Canada: $288 Billion 2009 52% of foreign investments in Canada Canada FDI in US: $251 Billion 2009 44% of Canadian foreign investment
  7. Canada-U.S. Trade:Statistics Canada-US trade - largest in world Over $1.4 billion in goods and services daily in 2010 US exports to Canada up 65% since 1995, under NAFTA 55% of all Canadian imports come from the U.S. 75% of all Canadian exports go to the U.S.
  8. Canada and North Carolina Merchandise Trade Canada is NC’s largest export market Over $20 million/day traded between N.C. and Canada [2010]
  9. Canada and North Carolina Top NC Exports to Canada (2010) Fact: 21% of NC exports are sold to Canada
  10. Canada and North Carolina Top NC Imports from Canada (2010)
  11. Travel & Tourism Canada and North Carolina
  12. Ontario 13 million people and 43% of Canada’s GDP [2010] Canada’s largest market, and most similar to the US Low-risk entry point into Canada 35% of all Canadian R&D Toronto: largest city in Canada, home to half the country’s largest financial institutions, 90% of its international banks, and over 75% of U.S. subsidiaries in Canada
  13. 2011 Best Prospect List Security Aerospace and Defence Energy & Environment Construction & Engineering ICT
  14. Considerations when Exporting to Canada
  15. Resources for NC Exporters to Canada NC Dept of Commerce, Intl Division, Raleigh www.nccommerce.com NC District Export Council www.ncdec.us NC World Trade Center www.wtcnc.org US Export Assistance Centers www.buyusa.gov/northcarolina/location.html US Commercial Service in Canada http://www.buyusa.gov/canada/en/bsp.html Independent Consultants with Canada Experience Logistics, Shipping, Freight Forwarding Co’s Attorneys & Law Firms with Canadian Presence
  16. Useful Canadian Websites www.strategis.ic.gc.ca www.investontario.com
  17. North Carolina Department of Commerce - Canadian Office Contact Information Russ Sawchuk, Director 13A Princess Street Mississauga Ontario L5M 1Z8 Canada Phone: (905) 826-6000 Fax: (905) 826-6009 Email: ncco@on.aibn.com www.thrivenc.com
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