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Canada

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Last updated: 19 June 2009

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Trade and investment

Trade and investment with the UK

Canada is an important trade and investment partner for British companies of all sizes and across the spectrum of business activity. Canada is one of the world’s richest and most developed countries, ranks among the top ten industrial powers and is recognised as having one of the highest standards of living in the world. With low inflation and steady economic growth, Canada offers good trade and investment opportunities for British companies in many sectors e.g. energy, food and drink, aerospace and biotechnology. A recent study comparing business costs in Canada, Europe and the USA placed Canada ahead of other G7 countries across a broad range of business operating costs. Canada’s market economy has maintained a varied structure with both small companies and multinational giants playing important parts. Natural resources remain a major factor, but the growth of hi-tech industries often involving small dynamic enterprises, is of ever increasing significance. The Canadian Government announced plans in 2002 to invest $108m into the Canadian digital content industry. Service industries too have increased greatly in recent years and along with the possible expansion of the privatisation programme by Federal and Provincial governments, opportunities are expected to continue to present themselves over a number of sectors. The proximity of the huge US market to much of Canada’s industrial activity (based largely in Ontario and Quebec), Canada’s close relationship with the UK, its well-educated and skilled labour force help create a good business environment with opportunities for British companies in most sectors including services. There are also good opportunities for strategic business partnerships and technology transfers between UK and Canadian companies. The market remains very receptive to British products and Canadian businesspeople are familiar with UK business practices. Neglecting business opportunities in Canada by failing to recognise its strategic role in tackling the wider NAFTA region - could prove costly for UK companies.

Trade In goods

The value of UK goods exported to Canada totalled more than £5.8 billion in 2007, up from £5 billion in 2006. With the top three gold, uranium and other radioactive elements and nickel matters. UK imports is Canada’s second largest export market, and the second largest destination for Canadian investment (after the US). The UK is Canada's 6th largest supplier of goods (after US, China Japan, Mexico and Germany) with a market share of 2.7%. The UK was Canada's 2nd largest export market in 2006 (exports of goods) with a 2.0% share of worldwide Canadian exports of £185.7 billion.

Trade in services

The UK is Canada’s primary European trading partner. Canada is the UK’s 11th largest market, with exports reaching £3.3bn in 2007. The UK is the second largest foreign direct investor in Canada after the US.

UK Trade & Investment Country Profile: Canada

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Travel advice: Canada

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