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Global Export Forecast – Fall 2017

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Global Export Forecast
Fall 2017

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Export Outlook by Industry

2017 was a remarkable year for Canadian exporters with 8% export growth, led by massive gains in the commodity space. Growth will taper off somewhat in 2018, but will remain respectable at 4%. Service exports growth will be more balanced at 6% each year. As has historically been the case, the vast majority of Canada’s goods exports (88%) are destined for developed markets. With a much smaller share of 12%, emerging market (EM) exports will nonetheless post very impressive 12% growth in 2017 before settling in at just 3% next year.

Provincial Overview

Canadian merchandise export growth is forecast to grow by 8% in 2017 as higher commodity prices, coupled with stronger exports of consumer goods, result in a rebound after a contraction in nominal exports in 2016. With commodity price growth expected to moderate in 2018, Canadian exports are expected to increase by 4% as volume gains lead export growth.

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Global Export Forecast – Fall 2017 was last modified: October 19th, 2017 by Export Development Canada.
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