Economy of Quebec

Quebec has a post-industrial economy modern with a commercial Balance positive. Since the signature of the agreement of free trade between Canada and the United States (ALE) in 1987, exports of Quebec towards the American territory increased considerably.

In 2006, GDP of the Quebec rises to 230,6 billion $ US PPP, is 19,7 % of the Canadian GDP. Although 94e in the world in the chapter of the population for the same year, Quebec thus occupies the 40e row as regards the size of its economy, behind the Norway (38e), the Suisse (35e), the Austria (33e) and the Sweden (32e), but in front of the Portugal (42e), the Denmark (46e), the Finland (50e) and the Ireland (51e). The gross domestic product per capita of Quebec reached, in 2006,30 143 $ US PPP, behind Singapore and the France, but in front of the Italy and the Spain. Quebec occupies thus the 22e position in 2006. By taking account of the whole of the foreign trade of goods and services, including the trade interprovincial of Quebec which is worth 36,1 % of exports to all the destinations in 2006, exports of Quebec are established with 52,5 % of its GDP.

Like the majority of the economies of the industrialized countries, that of Quebec rests mainly on the service sector. The manufacturing sector is there also very important, appearing in the second rank. Approximately 85 % of Québécois exports are intended for the United States.

The valley of the the St. Lawrence is an agricultural area very fertile. One produced there Dairy products, Fruit S, Vegetable S, Maple syrup (of which Quebec is the first world producer) and the Bétail.

Strong sectors

Aerospace

The aerospace industry of Quebec is classified with the 6th world rank for its value of production. Montreal is the second aerospace center after Seattle and before Toulouse. In 2002, the aerospace sector counted approximately 260 companies employing some 40 000 people. Various international agencies established their head office in Quebec, in particular the International association of air transport and the International Civil Aviation Organization.

Surface transport

The industry of the rail-bound and road transport generated incomes of 7,2 billion at the beginning of 2004. Industry employs approximately 35 000 people. Large manufacturers such Bomber, PACCAR, the NovaBUS, Prévost BECAUSE, and Komatsu take part in it with a great number of suppliers and subcontractors.

Information technology

Employing more 100 000 workers, the sector of information technologies of Quebec east in strong growth since a few years. In 2002,52 % of the totality of the capital of Canadian risk was managed with Quebec and 61 % of the cash in hand invested in technology. Particularly strong are the sectors of telecommunications, the software multi-media, the data processing departments, micro-electronics and the components.

Some 115 companies of telecommunication such Ericsson, Motorola, and Mitec are established in Quebec.

The multi-media sector is particularly active, especially since the arrival of Electronic Arts in 2003. Approximately 1 200 people work for companies of development of play vidéos such Ubi Soft, Microïds, Strategy First, and A2M.

In particular, Montreal is at the city which gave rise to two important originators of software of animation 3D: Softimage and Discreet. The data processing departments, the development of software, and the genius-council employs 60 000 semi-skilled workers.

The sector of micro-electronics is solid, with 110 companies employing 12 900 people. The largest employers are Hyperchip, IBM, and Matrox.

Optical and photonic system

In 2004, approximately 8 000 people worked in industries of the optical and photonic system in Quebec. The research and development concentrates particularly in the area of Quebec, whereas the operations and the production are rather localized in the area of Montreal. Quebec counts approximately 20 companies in the laser, fiberoptic, the image processing, and the sectors related.

Biotechnology

Quebec counts approximately 130 companies employing 4 700 people in the industry of biotechnologies. Québécois industry is classified thirdly in North America for its size, just after the California and the Massachusetts.

Drug company

With 381 companies and 24 550 employees in the pharmaceutical one, the related research and development, manufacture, and sectors, the industry of the health products of Quebec east one of the economic sectors most important of modern Quebec. With the presence of some 20 multinationals such Merck Frosst, Johnson & Johnson, Pfizer, Sanofi-Aventis, and Bristol-board-Myers-Squibb, Montreal is classified eighth in North America for the number of work of employment in the pharmaceutical sector.

Industry of tourism

In 2002, the expenditure in the sector of tourism rose to 7,3 billion. Approximately 27,5 million voyages was made in Quebec, of which 72 % by Inhabitants of Quebec themselves, 15% by Canadians of the other provinces, 9 % by Americans and 4 % starting from other countries. The sector employs approximately 330 000 people and supports 34 000 companies.

The most visited cities are Montreal and Quebec. Major attractions are the festivals of Montreal, the European seal of the town of Quebec and natural big spaces. In addition, the Ville of Quebec is only the still strengthened city in the north of Mexico City. Quebec is quoted like one of the 20 best tourist destinations in the world.

Natural resources

In spite of their small place in the GDP of the province, the natural resources remain very important for the provincial economy. It indeed lays out of a territory rich in forests of Conifère S of all kinds, in Eau and mineral. The abundance of the water resources of Quebec enables him to exploit hydroelectric energy via its company of State Hydro-Quebec, the major part of the electricity produced in Quebec coming from the hydroelectricity. By doing this, Hydro-Quebec gives to each year of important dividends to the government of Quebec, which in fact a considerable source of revenue for the State.

Forests

The province has abundant renewable forest resources. The forest occupies close to 760 000 km ² and annually generate cuts of 55 million m ³.

The industry of the Pastes and papers and other products of wood generate more than 18 billion annually. The forestry occupies the second position in terms of exports (11 billion) and is the primary source of manufacturing industry in more than 250 municipalities.

It currently passes through (2ère six-month period 2007) very an serious attack, caused pricipalement by the conjunction of four unfavourable factors:

strong appreciation of the Canadian dollar compared to the American dollar
reduction of volumes of forest cuts issued by the Government of Quebec, moved by an overexploitation of the forest
reduction (cyclic) in the paper world demand
significant drops of the domiciliary operational startups in the United States.

Mines

Quebec is one of the 10 larger producers in the world in the mining sector . It is the second larger producer of Or and Fer in Canada and the second producer of Niobium in the world. The province comprises 22 active mines, 158 firms of exploration and 12 companies of first transformation (4 foundries and fineries, 4 cement factories, 3 factories of production of lime and a factory of production of clay). Approximately 30 minerals are exploited, most important being gold, iron, the Titanium, the Amiante, the Cuivre, the Zinc and the money. It is estimated that 40 % of the mineral potential of Quebec was discovered. In 2005, exports of the mineral province and metals reached 1,46 billion and the investments, 1 billion. In 2006, industry generated 13 373 direct uses. Of this number, 9482 are ascribable to exploration and the mining extraction.

The Abitibi-Témiscamingue was the first area to see a mining boom. Since, the areas of Matagami, Chibougamau, Saguenay-Lake-Saint-Jean, Large-North and Coast-North were explored.

Processing industries

Bibby-Co.-Cross is a Fonderie located at Holy-Cross-with-Lotbinière.
the Papiers Cascades is a Papetière whose head office is with Kingsey Falls.

Agroalimentary

As mentioned in introduction, the valley of the the St. Lawrence is an agricultural area very fertile. One produced there Dairy products, Fruit S, Vegetable S, Maple syrup (of which Quebec is the first world producer) and the Bétail.

The sector Agroalimentaire of the transformation has good prospects. “Produced transformed, biological culture, biotechnologies and genetics will have the dimension on the market agro-alimentary of tomorrow. ”

Damafro
First Harvest

Exports

Quebec exports for 64,7 billion $ US in 2006 and, consequently, it is the 37e exporter on the international markets.

Food products: 3,340 million USD
Wood and paper: 9,902 million Textile USD
: 3,045 million Mineral USD mining
and products: 10,598 million USD
Chemicals and petrochemical: 3,877 million USD
Machinery and tools: 4,581 million USD
Materials of transport: 15,750 million electric, electronic Produced USD
and of telecommunications: 7,172 million USD
Electricity: 832 million not-categorized Produced USD
: 9,146 million USD

; Leaves Québécois exports in Canadian exports, 2004

High technology: 43,5%
Average-high technology: 7,9%
Average-weak technology: 24,5%
Weak technology: 26,8%
Total: 16,6%

; Food products

Québécois exports of food products increased 75 % between 1999 and 2002, reaching 3,6 billion dollars. In 2002, more than 150 countries imported these products, of which 88 % with three partners, is the the United States (75,1 %), the European Union (5,5 %) and the Japan (7,4 %). The most exported products are the Porc, the various food preparations, the Cacao, the Café and the The in addition to agricultural produce and food various.

Imports

Imports of 71,2 billion $ %US in 2006 is worth in Quebec the world title of 33e importing.

; Leaves the Québécois imports in the Canadian imports, 2004

High technology: 25,9%
Average-high technology: 13,3%
Average-weak technology: 19,1%
Weak technology: 18,5%
Total: 19,3%

; Food products

The Québécois imports of food products increased 87 % during the period of 1999 with 2002, reaching 3 billion dollars. More than 155 countries these products in 2002 exported. The the United States, alone, exported 28 of it; % and the European Union exported 28 of it; %. The principal imported products are the various food preparations, the Boisson S, the Fruit S and the Noix as well as the Cacao, the Café and the The.

Labor

; Unemployment rate

In September 2007 unemployment rate was of 6,9 %. It is about low unemployment rate in 33 years.

; Unionization

In 2001,40,7 % of workmen of Quebec were syndicated.

; Employment sector

In 2001,74,7 % of workmen of Quebec worked in the Tertiary sector, 18,5 % in the Secondary industry, of which 4,0 % for the BTP, and 2,8 % in the Primary sector.

See too

More general:

Economy of Canada
List of Canadian companies
the Quebec
the Canada

More precise:

Saving in Montreal

External bonds

international economic Comparisons
Statistical institute of Quebec

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