Question

Canada Economy

1. Last Five Year’s Total International Trade (Export and Imports), Balance of Payment Situation, Foreign Exchange Reserves (at the end of the Year)

2. Fluctuation of Currency of the country vis-à-vis USD in last five years

3. Major Sectors with numbers (in USD Millions/Billions) where the country is importing or exporting goods and services

4. Major Five trade partner countries

5. Nodal ministry for international business / government agency (export/import)

6. Major International firms based in the country.

7. Nodal ministry for international business / government agency (export/import)

Answer 1

- Canada Economy-

- The economy of Canada is a highly developed market economy. It is the 10th largest GDP by nominal and 16th largest GDP by PPP in the world. As with other developed nations, the country's economy is dominated by the service industry which employs about three quarters of Canadians. Canada has the third highest total estimated value of natural resources, valued at US$33.2 trillion in 2019. It has thr world's third largest proven petroleum reserves and is the fourth largest exporter of natural gas. Canada is considered an energy superpower due to its abundant natural resources and a small population of 3.7 million inhabitants relative to its land area.

- 1-Driven by its emphasis on forced labor violations and sense of social responsibility, in addition to its first Forced Labor audit , on Oct 1, CBP cracked down on five U.S. importers by issuing " withhold release orders" covering five imported products from five countries, in essence halting all import related activities for those importers.

- Negotiate the best payment options and arrangements based on risk assessment and trade research findings.

- Minimize your organization's exposure to financial risk using tools such as credit insurance, guarantees and bonds.

- keep your buyers and customers happy by resolving non- payment situations through the use of contracts in a conflict- free manner.

- Strategically manage your business's assets by developing a smart financial plan for short, medium and long - term. growth.

- A country balance of payments and its net international investment position together constitute its international accounts.

- If a country exports an item (a current account transaction) ,it effectively imports foreign capital when that item is paid for a ( capital account transaction)

-2- Currency values fluctuate depending on several factors including a nation's economic activity and growth prospects, interest rates,and geopolitical risk.

- When currencies fluctuate widely, they can create economic uncertainty and instability, affecting capital flows and international trade.

-3-The economy of the United States is that of a highly developed country. It is the World's largest economy by nominal GDP .The US dollar is the currency most used in international transactions.

4- Top five trading partners-

-1- China

-2- United States

- 3-Saudi Arabia

- 4-United Arab Emirates

-5- Iraq

5- The Directorate General of Foreign Trade is the agency of the Ministry of Commerce and Industry of the Government of India responsible for administering laws regarding foreign trade and foreign investment. in India.

- 6- The Ministry of International Trade and Industry was one of the most powerful agencies of the Government of Japan.

- Important MITI agencies Include-

- 1-National Institute of Advanced Industrial Science and Technology.

- 2- Japan External Trade Organization.

- 3-Japan Patent office.

7- Included-

- 1-International to Institutional framework for International trade.

-2- Institutional framework- Department of Commerce

-3- Institutional framework- Advisory bodies

-4- Institutional framework- Commodity organization

-5-institutional framework- Autonomous Bodies

-6- Institutional framework- Government Participation in foreign trade

-7-Institutional framework- States Involvement in Promoting Trade

-8- Institutional framework- Service Institutions