Our Ocean Economy

The Canadian economy remains closely tied to the sea. Industries working in, on and around the oceans employ about 315,000 Canadians and contribute more than $26 billion a year to the nation's wealth. When you factor in the $100-billion trade industry that our shipping industry helps to facilitate, oceans activities have an enormous impact on the broader Canadian economy.

Find the Economic Impact of Marine Related Activities in Canada on our Web site.

For generations, Canada's commercial and sport fisheries have spurred economic growth. Since 1964, offshore oil and gas activity has helped to meet national and global energy needs while generating significant economic and employment benefit for Canadians. Considerable untapped potential exists for conventional offshore oil and gas, as well as emerging renewable ocean energy. Other ocean users—such as the aquaculture industry, the tourism industry and pleasure craft enthusiasts—contribute both directly and indirectly to the ocean economy.

Canada's oceans and offshore areas have major renewable energy potential. Efforts to collect energy from ocean currents, tides, waves and offshore wind are now being explored on Canada's east and west coasts. Renewable energy produces less greenhouse gas emissions and less air pollution than energy produced from fossil fuels, which come from limited resources. Renewable energy from our oceans has the potential to meet much of Canada's current and future energy needs. While renewable energy currently supplies a small amount of Canada's total energy needs, there is great potential for expansion.

Offshore renewable energy may also benefit coastal communities that rely on diesel power generators. This could reduce their dependence on imported fuel, increase energy supply and stability, lower energy costs and create local jobs.

Marine Weather Forecast and Warning Program - In June 2008 Environment Canada launched a new Marine Weather Forecast and Warning Program which is helping to improve safety and security for mariners in Canada. Mariners now have better and more effectively delivered weather information to use when making decisions that could affect their personal safety and livelihoods. The Regular Marine Forecast now offers a five-day forecast, helping mariners plan their long-term activities while factoring in potential severe weather events. The new program also offers more timely updates to mariners when severe weather events do develop.

In total, our ocean activities have a positive impact on the state of our national economy and the nation as a whole.