FOREIGN ECONOMIC RELATIONS OF CANADA

  Canada is a country extremely involved in world economic relations, it ranks first in the “big seven” in terms of trade participation. In 2000, Canada was in sixth place as an exporter and importer of goods (4.3% of world exports and 3.7% of world imports). The foreign trade balance is positive.

In terms of trade in services, Canada’s position in 2000 was significantly lower:  eleventh place in exports (2.6% of the world) and eighth in imports (2.9%). In this case, the balance is negative, and the overall balance remains positive.

Canada’s special trading partner is the United States, which initiated the creation of an economic union with Canada. 82% of Canadian exports go to the US market, and the US share in Canadian imports is 67% (1999). The United States is Canada’s main source of investment; 3/4 of all investment in the country is accounted for by American TNCs. Trade is intra-company.

In recent years, trade with the Asia-Pacific countries has begun to intensify. Its features are:

(1) complementarity;

2) Canada’s passive role with the initiative of Asian partners;

3) a specific item of Canada’s export to the Asia-Pacific region is weapons as an important condition for the survival of high-tech military industries.

The most important partner for Canada in the Asia-Pacific region is Japan (50% of exports, 38% of imports), and the share of raw materials and semi-finished products is higher than in trade with any other country. The second place in the trade turnover is occupied by China, followed by South Korea, Taiwan, Singapore, Indonesia, the Philippines, Malaysia and Vietnam.

Japan and Hong Kong now account for 80% of all capital investment from the Asia-Pacific region to Canada. The main objects of application of Canadian capital are Japan, Australia, Singapore and Indonesia.

Trade relations between Canada and the Republic of Belarus are being established. Trade volumes are still small. Imports of goods from Canada in 2000 amounted to only $ 5.6 million, and exports of $ 1.2 million.