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Canadian Economy Continues to Benefit from Exports
New report demonstrates the effectiveness of Harper government’s ambitious pro-trade plan to open new markets
December 27, 2013 - The Honourable Ed Fast, Minister of International Trade, today announced the launch of Canada’s State of Trade: Trade and Investment Update 2013, a summary of the key trends and developments in international trade and investment during the past year.
Detailed data show that as the recovery from global economic challenges continued in 2012, Canada once again proved that it remains one of the most prosperous countries and one of the most stable economies in the world. In particular, Canada’s exports helped the country weather the global economic downturn in 2012. During that year, as global exports stagnated, Canada’s exports of goods and services actually expanded and helped grow the economy, illustrating the importance of trade to Canadian jobs, growth and prosperity.
- Canada’s exports of goods and services grew in a challenging global environment that saw trade stagnate and exports decrease in countries around the world.
- WTO reports that Canada rose from 13th to 12th place in the rankings of the world's leading merchandise exporters, with US$455 billion in total exports.
- Canada remains the most important trading partner of the United States, ahead of China and Mexico in total trade (16.1 percent of the total).
- Canada’s exports to Mexico reached $5.4 billion in 2012, making Mexico our fifth-largest export destination.
- Canada’s total bilateral trade with China continued to increase in 2012, up 7.8 percent from 2011, to reach $70.1 billion.
- The United Arab Emirates remains Canada’s largest export destination in the Middle East and North Africa region, with $1.5 billion in merchandise exports.
- Energy is Canada’s top export commodity with a value of $115.8 billion.
- In 2012, exports of agricultural and agri-food products expanded by 7.3 percent (up $3.2 billion), reaching a new peak of $47.4 billion.
“Creating new jobs and opportunities for Canadians is our government’s number one priority,” said Minister Fast. “That’s why we have worked hard to open new markets for our world-class exporters around the world. We know that as trade increases, so does our nation’s prosperity, which creates jobs and puts more money into the pockets of hard-working Canadians.”- Ed Fast, Minister of International Trade
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For further information, media representatives may contact:
Office of the Honourable Ed Fast
Minister of International Trade