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Economic Viewpoint

Canada’s International Trade Facing Numerous Challenges

May 3, 2019
François Dupuis, Vice-President and Chief Economist • Mathieu D’Anjou, Deputy Chief Economist • Benoit P. Durocher, Senior Economist

Canada’s trade balance has deteriorated substantially since the early 2000s, calling attention to the significant and ongoing transformations. Considerable effort has been made in recent years to deal with the structural changes. Among other things, the Canadian government has entered into numerous trade agreements, and measures are in place to facilitate interprovincial trade. The service sectors also seem to be taking on more and more weight in foreign trade. However, these adjustments will take time to roll out completely. The outlook is encouraging over the medium range, but export growth could remain erratic in the coming quarters.