Canada’s natural resources products are not the only things the world needs. Canada has ridden the commodity supercycle wave with gusto, but we are now at the dawn of a new era, in which high-value services are quietly accounting for some of Canada's strongest trade growth.
Services are already very prevalent in the Canadian economy, with about 80 per cent of all jobs in services industries such as engineering and communications. In international markets, three out of the five fastest-growing Canadian exports over the last decade were services. Canada’s finance and insurance, management, and computer and information services exports increased more than 50 per cent in the last decade.
Despite this trend, there has been little study of services trade in Canada. The Conference Board's Global Commerce Centre has begun a research project on high-value services trade in Canada. Join Jacqueline Palladini for a discussion of recent trends in high-value services trade, Canada's emerging strengths in services, and the important role that services play in making Canada’s goods exports more competitive.