Protectionism has become a tangible threat for certain key industries in Canada. One might expect a gloomy export forecast given what we’re seeing in the news. Instead, Export Development Canada’s (EDC) latest semi-annual Global Export Forecast (GEF) is revising its projection for 2018 upwards – to six percent growth over last year – up two percent from last fall’s forecast.
EDC says there’s room for even more growth if Canadian businesses seize the opportunities that come with a growing global economy.
“Current growth is no mere flash in the pan, but a call to action for Canadian companies,” says Peter Hall, Chief Economist and Vice President at EDC. “Strong global performance will lead to more investment as businesses work to meet increasing demand across a number of sectors, and that will lead to increased opportunity for Canadian exporters.”
Full EDC report here: Exports facing the greatest headwinds are growing the fastest: EDC forecast
