Toronto is a commercial, distribution, financial and industrial center, and also the banking and stock exchange center of the country. Canada's primary wholesale and distribution point. The city and its surrounding area produce more than half of Canada's manufactured goods.

Until the 1970s, Toronto was the second largest city in Canada, after Montreal. The economic growth of Toronto was greatly inspired by the development of the auto industry and of large mineral resources in its hinterland, and by the completion in 1959 of the St. Lawrence Seaway, which allowed ships access to the Great Lakes from the Atlantic Ocean.

Exterior view of the former Toronto Stock Exchange on Bay Street; the TD Canter was partially built around and incorporated the TSX. The City of Toronto's gross domestic product (GDP) is US$225 billion and Metropolitan Toronto's GDP is US$305 billion. Compared to other global metropolises, the size of Metropolitan Toronto's economy is 7th in the world