- In this section I will be talking to you about industry and foreign trade, shall we begin. Canada has the 14th largest economy in the world, their are four types of work industries they are called primary, secondary, tertiary, and quaternary industries. Primary industries are those that harvest and extract raw material from nature such as mining, fishing, forestry, and more. Secondary industries are also called manufacturing industries they take the goods and make them into consumable goods that consumers can use. Tertiary industries also known as the service industry it provides services and knowledge for the public some examples are cell phone companies, cloth companies, and schools. Quaternary industries this industry is called the intellectual industry it develops research and actual information technology based to provide to the public a example of a quaternary career are scientists. tertiary and quaternary combine together because they are so similar so almost 78% of employees work in the service industry, 13% in manufacturing, 6% in construction, 3% in various sectors and 2% in farming. The leading resource for Canada's income is fossil fuels and minerals, Lets talk about the gross domestic products (GDP) is the monetary value of the finished goods and services for a countries border in a specific time period, Canada's GDP is 1825.24 billion and GDP per capita the measure of the total output of a country that takes the GDP and divides it by the number of people in the country so Canada's GDP per capita is 37,520 and we are ranked 9th in the world. We are 2.94% of the worlds economy. Their are a lot of reason why Canada is a great nation for the economy business some examples are low taxes for corporations, low business costs for business, and excellent banking system (stable). Also Canada has free trade which is just the exchange of goods and services between nations without restrictions or barriers. Tariffs are taxes on imports and exports and with free trade you don't have that, also their are subsides which is just a government benefit paid to a group in a form of cash payment or tax break. Also their is the (NAFTA) North America Free Trade Agreement it happened in 1994, it is a multilateral agreement between Mexico, Canada, and USA this happened to increase trade and eliminate tariffs this will also benefit the economies. Canada-Mexico trade increased to 7x to $31 billion a year, and 75.7% of Canada's exports go to the NAFTA partners. This agreement together combined is one of the strongest economies in the world. Canada's top five trade partners are USA (74.5%), China (4.3%), UK (4.1%), Japan (2.3%), Mexico (1.2%). Also Canada's top three export resources are fossil fuels and minerals, vehicles and parts, finally mechanical machinery and equipment. Their and location factors and manufacturing first proximity of raw materials; locating the manufacturing of the goods close to source of the raw materials required to manufacture the goods. Location of markets: when a business locates it's manufacturing close to the consumers who buy their product. Availability if fresh water and power: large factories require large amount of electricity to produce their products. Labour supply: being near people who can manufacture your products. Transportation: having a way to ship and transport the final product to markets is essential. Political factors: when a government provides some incentive for a business to be located where it is.