Canada's exports to Asia have skyrocketed over the past decade, making it Canada's second largest trade relationship. However, exports have been concentrated in natural resources, and Canada's outward foreign direct investment growth and commercial services sales in Asia are weak. Despite export growth, Canada now captures only 1 per cent of Asia's goods imports, compared with 2 per cent 20 years ago. While Canada has benefited from Asia's thirst for natural resources, the next step is to seize other trade and investment opportunities Asia has to offer—especially in a world of slowing demand for natural resources. This report identifies the regions, exports, imports, and investments that have been Canada's focus in Asia, as well as the areas that have not had much Canadian focus. It also compares Canada's evolving market share in Asia with that of competing nations.
Part two of Canada's changing trade with Asia series: