Auto Industry in Canada

3469 WordsDec 5, 201014 Pages
To fully understand why Canada is one the wealthiest nations in the world, we need to pay particular attention to Canada’s economic history. The economic history of our country has been marked by many important events that have paved the way for a successful economic future. A brief economic history of Canada would pay particular attention to important events such as the economic boom of the 1920s, the dark times of the 1930s; the Second World War during the 1940s and to also not forget the important trade agreements such as the auto pact and the NAFTA. Despite the above mentioned important events, Canadian economy has also been greatly influenced by its own economic sectors. Our economy has undergone through major changes during the past…show more content…
The increase in employment contributed to an increase in the lifestyles of Canadians. Also government revenues increased with the expansion of the automobile industry. They had to find a way to maintain the roads therefore licensing and gas fees were introduced. The automakers did not only increase the lifestyle of the people in the southern provinces but they had a big impact on the western provinces also. Agriculture was one of the many industrial sectors that benefited from the automakers. With cars being built it was now easier for the farmers to sell their products in the market. They now had a more comfortable way to travel and this made their jobs easier. Also the introduction of the farm tractors was a big help in the agriculture industry. The farm tractors increased crop quantities and livestock volume. The tractor was a great invention as it was more efficient and less time consuming. One of the negative impacts of the automobile industry in Canada is that of the regional economic imbalances between the provinces. With the manufacturing being heavily concentrated in Ontario, the other provinces of Canada do not get the same economic output as Ontario does. “Ontario is considered by far the wealthiest province. The province generates almost 50 percent of Canada’s GDP which translates into a staggering 675 billion dollars. Many
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