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Global Export Forecast – Spring 2018

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Global Export Forecast
Spring 2018

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Export Outlook by Industry

Having grown 7% in 2017, Canadian goods exports are forecast to follow up last year’s banner performance with another strong 6% expansion in 2018. In 2017, Canada’s export gains were predominantly fuelled by higher prices in the energy, ores and metals sectors. This year, both commodities and manufactured goods will make strong contributions to the bottom line. Exports of services, meanwhile, are forecast to see slower but steady growth of 4% this year. As has historically been the case, most of Canada’s goods exports (88%) will be shipped to developed markets. This said, sales are diversifying as growth of exports to emerging markets will continue to outpace sales to developed markets.

Provincial Overview

The blend of modest growth in commodity prices, shifting winds of protectionism from the United States and expansion of Canadian free trade agreements is expected to produce a more subdued range of export growth among the provinces for 2018 and 2019.

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Global Export Forecast – Spring 2018 was last modified: July 19th, 2018 by Export Development Canada.
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