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Significance of Word Trade
to Canada
JE Role Jao. CD Tone, IP Co, WEI Eo.
Minister of Trade and Commerce
The present issue of “This is Canada” gives me an excellent opportunity
to remind readers of the particular importance to Canada of a prosperous
world wherein goods and services are exchanged freely. This importance is
symbolized by the International Trade Fair which opened in Toronto on
May 29, 1950. The Fair is designed to show the businessmen of many nations
what a wide variety of goods they can purchase from Canada, and it equally
gives Canadians an impression of the commodities which other countries have
to offer.
Canada, the fourth greatest trading nation, exports no less than one
quarter of its annual output of goods and services. With a small population
in relation to natural resources, Canada has concentrated on the production
of several basic commodities on a scale much larger than domestic markets
could absorb. Canadians send abroad, for instance, over three-quarters of
their production of base metals, nearly 90 per cent of their newsprint, half
of their wheat and cheese and over one-third of their sawn lumber.
Nor are the exports confined to basic foods and materials. Thus, while we
buy a great deal of equipment, two-thirds of the production of agricultural
machinery and one quarter of industrial and office machinery are sent to other
countries. For numerous other commodities the export proportion may not be
so large, but nevertheless the demands of the foreign buyers are essential for
profitable operations of the enterprise concerned. In short, Canada wants to
sell to the world a wide range of com-
modities from basic materials to the
most highly processed goods, from
wheat to electrical equipment.
Canada’s most important trading
partner is the United States. That
country now takes over half our ex-
ports and supplies nearly three-quar-
ters of our imports. As other markets
have been forced to reduce dollar
purchases, we have fortunately been
able to expand our sales south of the
border. But we are, nevertheless,
anxious to sell in as many markets
as possible.
Bacon
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