Recovery Gains Momentum: Canada’s Two-Year International Trade Outlook—April 2021

The Conference Board of Canada, 15 pages, April 28, 2021
Issue Briefing
(You must be signed in and entitled to rate this report)


This quarterly economic forecast presents the medium-term outlook for the Canadian economy. This release focuses on international trade. For an overview of all major components of the economy, go to the Canadian Outlook main page.

Document Highlights

  • Strong U.S. demand will boost Canadian merchandise exports over the next two years.
  • Once the threat of the pandemic retreats and restrictions are eased, domestic demand will bounce back strongly, firing up the merchandise import sector.
  • With COVID-19 variant infections on the rise in many parts of the world, tight travel restrictions will not be lifted any time soon. This will continue to weigh on non-merchandise trade activity for a good part of 2021.
  • The current account deficit will improve somewhat in 2021 but will then deepen again in 2022.

Table of Contents

Key findings

International trade snapshot

Overview

Trade outlook

Massive stimulus fires up U.S. outlook

Merchandise exports gets a major boost from U.S. demand Merchandise imports looking up

Recovery in travel services dragged out

Current account balance on a roller coaster ride

Methodology

COVID-19: Get all the insights

To see if you are entitled to get this research for free, take a minute and create a free e-Library account. This will let us determine if someone else at your organization has already purchased access to this material.

Browse by...
Need Help?