Talk of Canadian exporters diversifying their business outside the United States usually focuses on the Asian and European markets. The reality is more businesses are looking south of the U.S. In 2017, Export Development Canada (EDC) facilitated a record amount of business between Canadian companies and foreign buyers in both Mexico and Chile, building on a record year for business in Colombia in 2016.
Last year, Canadian and Mexican companies used EDC’s financial services to undertake more than USD 3.2 billion of business. EDC supported an additional USD $1.6 billion between Canadian and Chilean companies during the same timeframe. Looking at emerging markets, more of EDC’s financing supports deals in Latin America than Asia, Europe, the Middle East and Africa combined.
Full EDC report here: Latin America: A key market for Canadian exporters and investors