Macklem: Global trade, capital flows and Canada’s prosperity
From bankofcanada.ca
Good afternoon. It’s a great pleasure to be here in Saskatoon, and I want to thank the Saskatchewan Trade and Export Partnership and the Greater Saskatoon Chamber of Commerce for the invitation. Canada is a trading nation. We rely on exports for around a third of our income, and we use that income to buy the things we need from abroad. The share of exports in Saskatchewan’s gross domestic product (GDP) is even higher, roughly 45%—that’s the highest in the country. Saskatchewan provides commodities to the world—wheat, canola, potash, oil and gas, uranium and more. And it imports a range of goods, particularly motor ...
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