exploring the canadian market
DESCRIPTION
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. - PowerPoint PPT PresentationTRANSCRIPT
![Page 1: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/1.jpg)
Exploring the Canadian Market
Russ Sawchuk, Director North Carolina Canada Office
![Page 2: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/2.jpg)
TopicsCanada: An OverviewWhy CanadaTrade FactsCanada and North CarolinaKey AreasConsiderationsAdditional Resources
![Page 3: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/3.jpg)
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
![Page 4: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/4.jpg)
![Page 5: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/5.jpg)
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
![Page 6: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/6.jpg)
The Canadian EconomyCanada’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 $
![Page 7: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/7.jpg)
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
![Page 8: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/8.jpg)
Canada-U.S. Trade:Statistics
Canada-US trade - largest in worldOver $1.4 billion in goods and services daily in 2010 US exports to Canada up 65% since 1995, under NAFTA55% of all Canadian imports come from the U.S. 75% of all Canadian exports go to the U.S.
![Page 9: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/9.jpg)
Canada and North Carolina
NC Exports to Canada $4.3 billionNC Imports from Canada $3.3 billionBilateral Trade $7.6 billion
Merchandise Trade
Canada is NC’s largest export market
Over $20 million/day traded between N.C. and Canada [2010]
![Page 10: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/10.jpg)
Industrial Machinery (Including Computers)
$ 1.2 billion
Electrical Machinery (Inc. Audio/Video) $ 670 million
Motor vehicle & parts (excluding rail) $ 576 million
Pharmaceutical Products $ 519 million
Plastics & Rubbers $ 370 million
Medical & Optic Instruments $ 274 million
Furniture $ 123 million
Fact: 21% of NC exports are sold to Canada
Top NC Exports to Canada (2010)
Canada and North Carolina
![Page 11: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/11.jpg)
Pharmaceutical Products $ 334 million
Plastics $ 303 million
Industrial Machinery (Inc. Computers) $ 279 million
Paper & Paperboard Articles (Inc. Pulp) $ 278 million
Lumber $ 222 million
Electrical Machinery (Inc. Audio/Video) $ 177 million
Organic Chemicals $ 154 million
Motor vehicle & parts (excluding rail) $ 82million
Top NC Imports from Canada (2010)
Canada and North Carolina
![Page 12: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/12.jpg)
Travel & Tourism
Canadian Overnight Visits to North
Carolina: 443,300
Spending by Canadian Tourists in
NC: $123 million
North Carolinian Visits to Canada:
157,000
Spending by North Carolinians in
Canada: $94million
Canada and North Carolina
![Page 13: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/13.jpg)
Ontario13 million people and 43% of Canada’s GDP
[2010]
Canada’s largest market, and most similar to the USLow-risk entry point into Canada
35% of all Canadian R&DToronto: 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
![Page 14: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/14.jpg)
2011 Best Prospect ListSecurity
Aerospace and Defence
Energy & EnvironmentConstruction & Engineering
ICT
![Page 15: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/15.jpg)
Considerations when Exporting to Canada
Product Adaptation, Approvals & Certifications• CSA
Metric System (Dimensions, Temperature, Mass)
Bilingual (English/French) Language Requirements• Product Labeling
Border Considerations• NAFTA Certificate of Origin for Duty Free Treatment
Sales Taxes (GST, HST)Logistics and Transportation
![Page 16: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/16.jpg)
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
![Page 17: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/17.jpg)
Useful Canadian Websites
www.strategis.ic.gc.ca
www.investontario.com
![Page 18: Exploring the Canadian Market](https://reader036.vdocuments.net/reader036/viewer/2022070500/568168fd550346895de00986/html5/thumbnails/18.jpg)
North CarolinaDepartment of Commerce - Canadian Office
Contact Information
Russ Sawchuk, Director13A Princess StreetMississauga OntarioL5M 1Z8 Canada
Phone: (905) 826-6000Fax: (905) 826-6009Email: [email protected]
www.thrivenc.com