The fact that Canada’s economy depends so much on exports has its ups and downs. On one hand, we get to benefit from global demand for our goods. On the other hand, if global demand drops or we lose key markets, it could really hurt. How do we diversify to avoid this dependency?

Diversifying into new markets and industries while also investing in innovation and technology could help Canada reduce its dependency on exports and mitigate economic risks associated with global demand fluctuations. Strategic planning is key to ensure long-term economic stability and growth.