This quarter, we look at the effects of a slowdown in the U.S. economy, softer domestic demand, and a weak Canadian dollar on the country’s international trade outlook.
With exports expected to outpace imports by a wide margin in 2023, how much will the trade sector add to overall economic growth? What is the biggest concern for Canada’s merchandise export sector over the short term? We share our outlook for international trade, including medium-term projections for merchandise and non-merchandise exports and imports.
Read the issue briefing to get our full analysis.
Key Findings
International Trade Snapshot
Overview
Trade Outlook
World Economy in for a Roller Coaster Ride
Weaker U.S. Demand Will Contain Merchandise Exports but Won’t Ground Them
Merchandise Imports Prospects Squeezed Over the Short Term
Non-merchandise Trade Deficit Shrinks Over the Forecast
Fifteen Years of Current Account Deficits Will Come to an End in 2024
Methodology
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