The exporting of products from Canada to the United States, Mexico and other parts of the world is vital for the stability and growth of the Canadian economy. There are many businesses of different sizes throughout Canada that do export. There are however some major Canadian exporters that do a great deal of business through exporting. The products that they are exporting are diversified.
Diversified Metals and Mining
Several Canadian companies are significant exporters in this commodity. Such as:
- Barrick Gold: Although sales were down in 2018 for this exporter they still managed to do very well overall. Profits for the year-end 2018 was $970 million. This was an increase of 49.6%. Barrick Gold has its headquarters in Calgary Alberta.
- Goldcorp: This company also experienced a reduction in year over year sales. But they still saw a significant increase in profit for the 2018 year end. Their profit was registered at $556. Million. Goldcorp head office is in Vancouver BC.
- Teck Resources: Teck is one of the companies that enjoyed a year over year sales in 2018. They were up by 35.3%. Profits came in at $2.1 billion. This is a company that also has their headquarters in Vancouver BC.
Oil, Oil Equipment, and Gas
Oil and gas, as well as equipment, are big items of exports, and some big players provide these products for export such as:
- Suncor Energy: For year over year sales Suncor realized a 27% increase for 2018. They recognized a significant increase in profit amounting to $3billion US. The head office for Suncor s located in Calgary, Alberta.
- Canada Natural Resources: This company also did well with a year over year increase that was up by 81.4%. They enjoyed a profit of $2.1 billion. This was an important event for this company as they had to deal with a $154 million deficit. Yet again another company whose headquarters is in Calgary.
- Husky Energy: Husky realized a 3.6% increase in assets. In addition to a 57.5% increase in year over year sales. Profit for the year-end 2018 came in at $750. Million.
Other Major Exports
While the above exports make up a considerable amount of the exports for Canada, several other industries contribute to the export industry as well. Some of these are pharmaceuticals and aerospace and defence. Two companies in these industries are among the top ten major exporters for Canada. Unfortunately, Valeant Pharmaceuticals had a reduction in assets for 2018 when compared to 2017.
Bombardier is a well-known name in the aerospace and defense industry for Canada. In 2018 they realized a 17% increase in assets. Sales in comparison to year over year were up by 2.2%. But, profits by the end of 2018 were down by 54.4% coming in at minus of $461 million.