Ontario

:This article describes the Canadian province. For other usages, see Ontario (disambiguation).

Economy

Ontario's rivers, particularly its share of the Niagara River, make it rich in hydroelectric energy. This competitive advantage, as well as excellent transportation links to the American heartland, has contributed to making manufacturing the principal industry, found mainly in the Golden Horseshoe region, the most industrialized area in Canada. Important products include motor vehicles, iron, steel, food, electrical appliances, machinery, chemicals, and paper. Ontario rivals the American state of Michigan in car production, assembling 2.696 million vehicles in 2004 (see Canada-United States Automotive Agreement). Some economists believe that the North American Free Trade Agreement has led to a decline in manufacturing, and that there is evidence that Ontario is part of North America's manufacturing "Rust Belt".

Related Topics:
River - Niagara River - Hydroelectric energy - Manufacturing - Industry - Golden Horseshoe - Motor vehicles - Iron - Steel - Food - Chemical - Paper - Michigan - Car - Canada-United States Automotive Agreement - North American Free Trade Agreement - Rust Belt

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Toronto is the centre of Canada's financial services and banking industry. The technology sector is also important, especially around Markham, Waterloo and Ottawa. Mining and the forest products industry, notably pulp and paper, are important to the economy of the Canadian Shield of Northern Ontario.

Related Topics:
Technology - Markham - Waterloo - Ottawa - Mining - Pulp and paper - Canadian Shield - Northern Ontario

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Nominal Gross Domestic Product in 2003 was an estimated C$494.229 billion (40.6% of the Canadian total), larger than the GDP of Austria, Belgium or Sweden. Broken down by sector, the primary sector is 1.8% of total GDP, secondary sector 28.5%, and service sector 69.7%.

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Further economic information on provincial GDP etc. at Ontario Facts

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