OTTAWA, ONTARIO--(Marketwired - April 15, 2014) - Agriculture and Agri-Food Canada
An Overview of the Canadian Agriculture and Agri-Food System 2014, a report released today by Agriculture and Agri-Food Canada (AAFC), shows the strength of the agriculture and agri-food sector's contribution to Canada's economy.
Using historical data up to 2012, the Overview shows that the farm and food sector displayed robust performance in 2012, enjoying high farm income levels, strong market receipts, stable profit margins, and increased export sales.
- Canadian export sales grew by 8.1% in 2012. With export sales of $43.6 billion, Canada is the world's fifth-largest exporter, accounting for 3.5% of the total value of world agriculture and agri-food exports.
- Federal and provincial government expenditures in research and development in the agriculture and agri-food sector are estimated to rise to $602 million in 2012-13.
- While the U.S. remains Canada's most important agriculture and agri-food export destination, Canadian exports to China increased by 84.2% in 2012 to $5.0 billion.
- In 2012, the agriculture and agri-food sector generated $103.5 billion, accounting for 6.7% of Canada's total GDP.
- In 2012, the agriculture and agri-food sector provided one in eight jobs in Canada, employing over 2.1 million people.
"Canada's agriculture and food industry has evolved into a modern, technologically advanced, export-oriented sector that is among the elite performers in today's highly competitive global marketplace. Our government will continue its aggressive trade agenda, and will continue to work bilaterally and multilaterally to level the global playing field so Canadian farmers and agricultural exporters can maximize opportunities in international markets."
- Agriculture Minister Gerry Ritz
- Overview 2014
- Economic Publications
The 2014 annual Overview provides basic information about the agriculture and agri-food sector, tracks how the sector performs over time, and reflects the challenges and changes that have occurred in recent years. It reviews in detail the whole value chain, covering not only primary agriculture and input suppliers but also food and beverage processing, food distribution, consumer trends, and government investment.
AAFC also recently released the Farm Income Forecast and the Medium Term Outlook. Together, these three reports provide a comprehensive historical profile of the sector, as well as a financial and market outlook for producers, industry and stakeholders, and governments as they plan for the years ahead.