Interdependence of Nations

1. Interdependence of Nations Geography of Canada

2. Trade Terminology • Trade – the exchange of goods or services between countries. • Imports – goods or services brought into a country from another country. • Exports – goods or services sent out from a country to another country. • Balance of trade – the difference between the value of the goods and services that a country exports and the value of the goods and services that it imports

3. Trade Terminology • Trade surplus – when a country’s exports exceed its imports. • Trade deficit – when a country’s imports exceed its exports. • Tariff – tax charged on goods imported to Canada in order to protect Canadian industries.

4. In 2012, Canada exported almost $545.8 billion worth of goods and servicesIn the same year, Canada’s imports totalled almost $582.3 billion. Did we have a trade surplus or a trade deficit? http://actionplan.gc.ca/en/page/ceta-aecg/canadians

5. Canada's Imports and Exports, 2013

6. International Trade Organizations

7. Canada’sTrade Agreements World Trade Organization (WTO) - Established in 1995The organization through which global trade rules are negotiated and enforced North American Free Trade Agreement (NAFTA) - Established in 1994, joining Canada, the United States, and Mexico Free Trade Area of the Americas (FTAA) - Established in 2005, the FTAA is made up of 34 countries in the Americas, to ensure prosperity, democracy and free markets for goods and services in the hemisphere The Comprehensive Economic and Trade Agreement (CETA) – massive free trade agreement with the European Union. This is the largest trade agreement Canada has ever signed. It gives access to the EU’s $17-trillion economy and will boost gross domestic product by $12-billion and create 80,000 jobs