Asia Pacific Trade and Travel
The Greater Vancouver Gateway is Canada’s main strategic link to the Asia Pacific economies. In 2004, some $30 billion of Canada’s total two way trade with the Asia Pacific economies moved through the Gateway’s seaports.
International travel through Vancouver International Airport to and from the Asia Pacific economies is projected to increase by 4 to 5% a year on average into the foreseeable future.
The importance of the Gateway to Canada’s international trade and travel will increase as the Asia Pacific economies expand their shares of world trade. In 2004, the value of Canada’s trade with the world was $735 billion, and although the United States dominates, trade with the Asia Pacific region is expanding rapidly. If present trends continue, that region would account for more than 20% of Canada’s total by 2030.
This shift in world trade is underlined by developments in China. It is the world’s largest recipient of foreign investment ( $53 billion in 2003); 400 of the global top 500 companies have investments in China. It has become the world’s third largest exporter after Japan and the world’s second largest importer of oil. It has the world’s largest foreign currency reserves and, by purchasing power parity, China’s economy is surpassed only by the U.S.