A Few Tips About Doing Business in Ontario
Overview
Ontario is a word thought to be derived from indigenous origins, either Ontario, a Huron Indian word meaning "great lake" or possibly Skanadario, which means "great lake" or "sparkling water" in the Iroquoian languages.
It is Canada's most populous province with 39% of the population.
It is nicknamed "The Heartland Province."
General Information
Capital City: Toronto
Size: 1.55 times as big as Texas
Population: 14.2 million (2021)
Population Distribution: The largest population is in the southeast e.g., Toronto which has over 5.6 million people
Economy
National Resources: metals (nickel, platinum, gold, copper, zinc, cobalt and silver), Non-Metals (salt, gypsum, lime and sand), forests, lakes, rivers
Major Agricultural Products: soybeans, corn, wheat, rye, oats, barley, beef cattle, oil seeds, sunflowers, flaxseed
Major Non-Agricultural Industries: technology, automobiles, energy (nuclear, hydroelectric, wind and solar power), mining (gold, nickel, copper, uranium and zinc)
Unemployment Rate: 6.20% (October 2023)
GDP: $779.15 Canadian Dollars (2022) (In 2022, the average was 1 USD
= 1.3019 CAD
Labor Force (2022): 7.8 million
International Trade in US Dollars
Total Exports: $210.2B
Major Product Exports (2022)
Gold - $13.1B
Mid-sized Autos - $11.74B
Large Autos - $10B
Medications - $5.5B
Motor Vehicle Parts - $4.7B
Small Autos - $3.4B
Breads, Pastries, Cakes, Biscuits, Similar Goods - $2.7B
Miscellaneous Motor Vehicle Parts - $2.6B
Large Engines - $2.1B
Coins - $1.96B
Nickel - $1.83B
Major Export Partners (2022)
US - $169.6B
UK - $ $10.7B
Germany - $2.93B
Norway - $2.77B
Mexico - $2.65B
Total Imports: $940.39B
Major Product Imports
Motor Vehicle Parts and Accessories - 22.6%
Mechanical Equipment - 14.4%
Electrical Machinery - 11.4%
Plastic Products - 3.9%
Pharmaceutical Products - 3.4%
Major Import Partners
US, China, UK, Japan, Mexico
Online News Sites
Toronto Star – newspaper - www.thestar.com
The Globe and Mail - www.theglobeandmail.com
Sampling of Ontario Companies
Angoss – software - Toronto
ATI Technologies - semiconductor technology - Markham
Barrick Gold - gold mining - Toronto
Big Blue Bubble - computer & video games
BlackBerry Ltd. – software - Waterloo
Blue Giant Equipment - industrial machinery - Toronto
Bluenotes - clothing & accessories - Toronto
Buckley's – pharmaceuticals - Mississauga
Bullfrog Power - alternative electricity - Toronto
Canada Bread - food products - Toronto
Celestica - electronic equipment - Toronto
Chrysler Canada – automobiles - Windsor
Colt Canada - firearms- Kitchener
Conestoga - Rovers & Associates - heavy construction - Waterloo
EllisDon - heavy construction - Waterloo
Ford Motor Company of Canada – autos - Oakville
George Weston Ltd. - food processing & distribution - Toronto
Hatch Ltd. - industrial consulting & engineering - Mississauga
Hudbay Minerals – mining - Toronto
Hudson's Bay Company – retailer - Brampton (Note: Founded in London, England in 1670 as a trading company dealing in furs, lumber etc.)
Nordion - medical equipment - Ottawa
Osisko Mining - gold mining - Toronto
Scotiabank - large banking firm - Toronto
Sifto Canada – salt - Mississauga
Stelco - steel production - Hamilton
Umbra - home accessories - Toronto
By Paul Mastilak
InterMark3, Inc.