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Exporters report difficult year

Published by Steve Coleman on December 02, 2011

Between the Japanese earthquake and bad financial news in Europe, 21 per cent of Canadian exporters reported serious disruptions to their businesses this year.

Depending on where they do business, the impacts were felt harder.

When it came to doing business with Europe, Export Development Canada says five of 10 exporters said they felt the aftershocks of the eurozone's debt problems. Two said the strong impacts will be a long-term problem. The number rose by 10 per cent to 29 per cent when they did business with Greece.

Of all the companies surveyed, 17 per cent reported a disruption in trade activities owing to the March 11 earthquake and tsunami in Japan. That number more than doubled to 38 per cent when the company exported to the Japanese market.

The IMF estimates the tsunami cut global auto production 30 per cent and caused a 0.5 to one per cent drop in US GDP in the second quarter.

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