The Future of Canada’s economy
Any country with a flourishing manufacturing industry has a robust economy. And if we talk about Canada, the manufacturing sector there is known to be one of the significant contributors to the country’s economy.
The Covid-19 pandemic has exposed the fragility of every industry, and the manufacturing industry has been no exception. With the global economy reviving slowly but steadily, the manufacturing industries of Canada have also begun to leap towards growth.
As per the data available recently, the manufacturing industry of Canada stands at $174 billion of its GDP, which is more than 10% of its total GDP. The major manufacturing industries in Canada are automobiles and aerospace.
Traditionally, Canada’s services and natural resources sectors were the major contributors to the country’s economy. The recently revived Canadian manufacturing industry is gradually becoming the major contributor. It boasts a highly skilled and specialized workforce that includes engineers, technicians, researchers, and salespersons. With a growing manufacturing sector, the demand for highly skilled workers is also growing.
The manufacturing industry in Canada has quickly adopted modern technologies and has brought about innovations in the manufacturing process. New technologies are changing the ways manufacturing industries operate and produce goods. Manufacturing industries are also re-thinking strategies and incorporating changes in their operations.
At present, Canada’s manufacturing industry looks promising for its economic future. The vibrant manufacturing industry assures quality full-time, well-paying jobs, and Canada’s new generation is more than eager to join the industry or start one.
Considering Canada’s potential in the manufacturing industry, we at Insights Success selected few sectors that did things differently, adapted to change, and elevated themselves on the global industrial map.
Read to know the illustrious journeys of the manufacturers and their industries in this edition titled Canada’s 10 Best Manufacturing Companies. There is no stopping for the industry that is out to grab the top economy booster for Canada.