A Restrained Recovery: Canada’s Two-Year International Trade Outlook

The Conference Board of Canada, 15 pages, February 8, 2022
Issue Briefing
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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

  • Global supply chains will remain strained in 2022. However, a better performance is still expected for Canadian merchandise exports over the next two years.
  • Growth in merchandise imports is forecast to slow over the short term, closely tracking softer domestic demand.
  • Net exports will be a positive contributor to real GDP growth throughout the forecast period.

Table of Contents

Key Findings
International Trade Snapshot
Trade Outlook
U.S. Outlook
Outlook for Merchandise Export Improves
Growth of Merchandise Import Slows Alongside Softer Domestic Demand
Non-merchandise Trade Prospects Looking More Upbeat
Current Account Balance Surpluses Are Here to Stay

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