We’re forever telling our clients that there’s never a bad time for market research. And it’s true – even during times of disruption, it’s good to know what’s happening in your industry in your target country. So today, we’re offering some quick stats from Canada’s banking, fintech, and information and communications technologies (ICT) sectors. And we’ll start with banking. Did you know that:
- More than 99% of Canadians have a bank account,
- Roughly 476 million annual transactions occur at Canada’s bank-owned ABMs, and
- Canada’s six largest banks recorded almost 600 million online and 750 million mobile banking transactions in 2020.2
Want to know more about the Canadian fintech sector?
- The Toronto Stock Exchange ranks ninth globally in market capitalization,
- Canada is home to progressive companies in finance and cryptocurrency, and
- Canadian fintech hubs are centred in fast-growing tech cities in Ontario, British Columbia, and Quebec.4
If you’re really looking for information about Canada’s ICT industry, we should tell you that:
- About 90% of Canadian ICT sector participants are in software and computer services,
- Canada’s ICT sector had CAD $230 billion in revenue and 5.0% growth in 2020, and
- It experienced a GDP growth of 2.9% during the pandemic.5
Your state’s export development organizations (EDO) can help you gather the info you need to start your export planning tasks. (For our client states, contact information is listed here.)
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