What Will Canada’s Trade Look Like in 2022? Canada’s Export and Import Forecast, by Main Trading Partners

The Conference Board of Canada, 16 pages, May 15, 2018
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This briefing provides an overview of The Conference Board of Canada’s outlook for Canadian exports to and imports from its main trading partners, with a focus on the United States, the European Union (excluding the United Kingdom), the U.K., and China.

Document Highlights

  • Stronger economic activity in the U.S., faster expansion of the global economy, and a competitively low Canadian dollar will not be enough to generate a significant pickup in Canadian export growth this year.
  • Canadian exports to its largest trading partner—the U.S.—are expected to grow only marginally this year before expanding at a moderate pace over the 2019–22 period.
  • Canadian exports to the EU and China are forecast to grow faster than those destined to the United States. However, the global economy faces significant risks. For example, a global trade war could result from the U.S. decision to impose tariffs on steel and aluminum imports. That would hurt global economic activity and, thus, Canadian exports.
  • Growth in consumer spending and investment in Canada is expected to moderate from the fast pace recorded last year, slowing the growth in imports from a range of Canada’s trading partners.

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