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EDC predicts good things for Canadian exporters in 2012

Published by Steve Coleman on April 20, 2012

Export Development Canada says things are looking up for this country's exporting businesses this year.

While public debt is dragging an anchor that's expected to slow GDP growth an estimated 1.2 per cent over the next couple of years, niche companies should have a chance to tap into growth in other areas.

Both the US and emerging markets are offering the chance to make money if businesses play their cards right.

"It may not look great on the surface, but behind what many are calling "new normal" growth is a faster-paced global economy, full of opportunity," said EDC Chief Economist Peter Hall. "So far, things are looking good for Canadian trade, and export momentum is outstanding."

EDC forecasts that the Canadian economic growth will ring in at two per cent in 2012 and could creep into the 2.2 per cent range in 2013. Selling Canadian products to the rest of the world is a very big part of that.

Canadian exports are projected to rise 7.1 per cent this year and 7.3 per cent in 2013. Export growth was 10.8 per cent growth in 2011, EDC says. So far, Canadian companies have moved 5.3 per cent more merchandise than they did at the same time last year.

Look to the following link for the full report.

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