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Ontario is the largest economy in Canada, making up around 38% of Canadian GDP. [1] [2] Though manufacturing plays an important role in Ontario's economy responsible for 12.6% of Ontario's GDP, the service sector makes up the bulk, 77.9%, of the economy. [3] Ontario's net debt-to-GDP ratio will rise to 40.7% in the year 2019–2020. [4]
Ontario, the country's most populous province, is a major manufacturing and trade hub with extensive linkages to the northeastern and midwestern United States. The economies of Alberta , Saskatchewan , Newfoundland and Labrador and the territories rely heavily on natural resources .
The economy of Toronto is the largest contributor to the Canadian economy, at 20% of the national GDP, and an important economic hub of the world. [1] Toronto is a commercial, distribution, financial and industrial centre. It is Canada's banking and stock exchange centre and is the country's primary wholesale and distribution point.
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Ontario [a] is the southernmost province of Canada. [9] [b] Located in Central Canada, [10] Ontario is the country's most populous province.As of the 2021 Canadian census, it is home to 38.5 per cent of the country's population, and is the second-largest province by total area (after Quebec).
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The most important economic activity in Ontario is manufacturing, and the Toronto-Hamilton region is the most highly industrialized section of the country. The area from Oshawa, Ontario around the west end of Lake Ontario to Niagara Falls is known as the " Golden Horseshoe " and the centre of it is Hamilton.
Ontario – one of the provinces of Canada, located in east-central Canada. [1] It is Canada's most populous province or territory [ 2 ] and fourth largest in total area. [ 3 ] It is home to the nation's capital city, Ottawa , and the nation's most populous city, Toronto .