Growing Canada’s Exports in a More Insular World: Canada’s Trade Forecast

The Conference Board of Canada, 23 pages, May 27, 2021
Impact Paper by ,
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This impact paper looks at the trends and prospects for Canada’s exports and imports, by industry and country.

Document Highlights

  • Canada’s exports plunged in 2020 amid the global pandemic and will take until the second half of 2022 before real exports return to pre-pandemic levels.
  • Canadian exports will post their biggest percentage gains in trade with the Asia-Pacific countries. But the United States will remain, by far, Canada’s biggest trading partner.
  • The huge monetary and fiscal stimulus implemented by the U.S. Federal Reserve and President Joe Biden will result in a sharp rebound in economic activity south of the border, and this will boost export growth in Canada.
  • At the same time, a stronger Canadian dollar will hurt growth in exports to the United States.

Table of Contents

Key findings

Canadian exports rebound but structural challenges persist

Canadian imports pick up in 2021

External threats: Some have eased, others have intensified

Appendix A

Appendix B

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