Canada is a gold-exporting powerhouse. But how much is that benefiting the economy?

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border_humper

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The starkest example of how gold has shifted Canada’s economic narrative is on display almost every month, when the country’s trade numbers are released. Gold has become an increasingly influential part of Canada’s export picture, accounting for close to 8 per cent of annual exports as of September.
In fact, Canada now exports more gold than it does former top exports such as assembled passenger vehicles, forestry products, farm and fish products and industrial equipment.
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For one thing, production is on the rise and new mines are being developed, which is no small feat in a country where building mining infrastructure has become increasingly difficult because of the lengthy, complex regulatory process and the uncertainty surrounding approvals.
“We’ve struggled as a country to open up new mines but even though we’ve only opened a small handful of critical mineral mines, we’ve been more successful at opening gold mines thanks to gold prices driving more incentives and more investment,” said Photinie Koutsavlis, vice-president of economic affairs and climate change at the Mining Association of Canada. Canada’s gold production climbed 32 per cent over the last 10 years as of 2024, allowing the country to overtake the U.S. to become the fourth-largest gold producer behind China, Russia and Australia. In 2025, Statscan’s monthly mineral production numbers show gold output as of October jumped by 11.5 per cent from the same period in 2024.
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Fun fact for your NYE party convos: 8% of Canada’s exports is literally gold. It’s Canada’s 2nd largest export after oil.
 
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Didn't Juthtin sell off all of Canada's gold reserves?
 
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