Article source: ConstructConnect

Canada has become much more than a natural resource-based economy.

Nevertheless, it’s a huge error in appreciation to underestimate and undervalue how much the raw materials sector means to the nation, its industry, and its people.

The construction sector knows. It’s well aware that many of the largest projects ever undertaken have originated in remote sites related to harnessing, extracting, or moving natural advantages.

Furthermore, there’s a significant foreign trade tie-in that is crying to be better understood.

Coincident with the push to net zero emissions (NZE) by mid-century, the U.S. and Canada will be entering a new era of mega project construction. The U.S. has already embarked on this path. Canada will be following shortly.

Many of the largest projects either underway or about to be built will feature new or expanded facilities to replace imports (e.g., chipmaking and battery plants) or facilitate exports (e.g., LNG terminals).

The total dollar volume of Canada’s goods exports so far this year are up by close to +20% compared with January-October of last year. Table 1 shows year-to-date rankings and dollar-volume percentage changes for 26 key product categories. Some of the increases are astonishing.
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