I was looking at the monthly fact sheet for May 2012 on the Ontario Ministry of Finance website and they had the top five destination countries for Ontario's exports. Top was the US at 76.9%, which is massive but unsurprising. Number two was the UK at 9.4%, which isn't a big surprise, although I'm wondering what exactly we are exporting to there. Obviously a lot of cars go to the US, but I doubt many go to the UK. Maybe gold going to London?
After that, there's a big drop off. Norway is surprisingly third at 1.4%. I have no idea what that is about. Something oil related I suppose, but what exactly? Machinery? Some products from our refineries? Cars? Maybe some gold too?
The final two are China at 1.4% and Hong Kong at 1.1%.
Ontario is still quite dependent on the US. Considering the province's location and the car industry that is somewhat inevitable.
The top five sources of imports is quite different. The US is first, but with only 55%. Next is China at 7.7%. Mexico is third with 7.7%, followed by Japan and Germany at 2.3%.
No comments:
Post a Comment