International commerce and trade is a key sector for Vancouver’s economy. The city has Canada’s largest port and is one of North America’s major gateways for pan-Pacific trade. The Port of Vancouver ranks first in North America in total foreign exports and second on the west coast in total cargo volume. The Port of Vancouver is Canada’s largest and most diversified port, landing and transferring more than 142 million tons of cargo, valued at $200 billion. The Port of Vancouver supports 115,300 jobs in Canada and provides $1.4 billion a year in tax revenues.
The headquarters for HSBC Canada and Vancity are located in the financial district in downtown. The Big Five Canadian banks also have modest regional operations located in Vancouver, although they occupy only a portion of the space in the downtown buildings they lease the right to have their logos on. In the 2018 Global Financial Centres Index, Vancouver was ranked as having the 18th most competitive financial center in the world and second most competitive in Canada after Toronto.
Small businesses are integral to the growth of British Columbia’s economy. They support diversity in urban and rural communities, and are a foundation in all industry sectors. Small businesses, having fewer than 50 employees, employ nearly 1.1 million people.
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