Waiting for the Global Recovery: Canada’s Two-Year International Trade Outlook
The Conference Board of Canada, 16 pages,
February 24, 2021
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.
- The resurgence in COVID-19 outbreaks in late 2020 and early 2021 will be a drag on economic growth in many countries and take some of the steam out of Canada’s export recovery during the first half of this year.
- Canada’s import sector is also feeling the pain as the domestic economy wrestles with softer domestic consumer spending and business investment.
- The non-merchandise trade sector has been hit hard and will continue to expand at a snail’s pace as governments maintain tight travel and border restrictions in an effort to contain the pandemic.
- The current account balance will see some improvement over the next two years but will remain in deficit throughout the forecast.