ABSTRACT
Historically, Canada has been a major exporter of primary products, and primary products continue to be more important in exports and the domestic economy than is the case in other high-income industrialized countries. A major share of these exports goes to the United States. This chapter highlights the overall impact of minerals on the Canadian economy. The major periods of Canadian history since the country's initial discovery by explorers from Europe and subsequent settlement have been marked by the development and export of a variety of staple products. Initially, the major product was furs, but then came fish, forest products, and some agricultural products. The concept of comparative advantage has played a central part in the theory of international trade since it was first introduced by David Ricardo in his Principles of Political Economy, initially published in 1817.
