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Montreal started out as the economic centre and largest city of Canada from the birth of the country up until the early 1970s when it was overtaken by Toronto. The loss of many headquarters and a large anglophone business community lessened Montreal's economic and social importance, and it would never fully recover. In the early 1990s, Montreal's economy began to recover, and the city is today an important centre of commerce, industry, technology, culture, finance, and world affairs. Montreal industries include aerospace, electronic goods, pharmaceuticals, printed goods, software engineering, telecommunications, textile and apparel manufacturing, tobacco and transportation. The service sector is also strong and includes civil, mechanical and process engineering, finance, higher education, and research and development. In 2002, Montreal ranked as the 4th largest centre in North America in terms of aerospace jobs.

The Port of Montreal is the largest inland port in the world handling 26 million tonnes of cargo annually. As one of the most important ports in Canada, it remains a trans-shipment point for grain, sugar, petroleum products, machinery, and consumer goods. For this reason, Montreal is the railway hub of Canada and has always been an extremely important rail city; it is home to the headquarters of the Canadian National Railway, and was home to the headquarters of the Canadian Pacific Railway until 1995. The headquarters of the Canadian Space Agency are located in Longueuil, southeast of Montreal. Montreal also hosts the headquarters of the International Civil Aviation Organization (ICAO, a United Nations body); the World Anti-Doping Agency (an Olympic body); the International Air Transport Association (IATA); and the International Gay and Lesbian Chamber of Commerce (IGLCC), as well as some 60 other international organizations in various fields.

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