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Canadian exporter confidence booming: EDC

Published by Brad Fougere on June 19, 2014

Canadian companies who engage in international trade are brimming with confidence, according to an Export Development Canada (EDC) semi-annual survey completed at the end of the first quarter 2014. The Trade Confidence Index (TCI), a summary of the state of Canadian exporter confidence, rose for a third consecutive report Canada’s leading finance, insurance and bond provider to exporters said in a release.    

A lower Canadian dollar, expanded export outlooks and continued export diversification were the major factors noted by the 1000 Canadian business respondents.    

“Few were upbeat about a boost from the loonie six months ago, but of those that believed that business would be picking up in the next six months, 37 per cent think that our dollar will be the primary boost,” said EDC Chief Economist Peter Hall, in the release.    

The US, China, Australia and the U.K. were identified as the strongest markets for new trade within the past two years, representing the push to globalize business. Half of respondents plan additional export diversity within the next two years.    

“Canadian exporters are far more bullish on the US economy compared with six months ago. Of those that believe that the global economy is on the upswing, almost one third believe that the US revival will be the primary catalyst in the coming six months,” said Hall, “that’s up from just three per cent last fall.” 

For more information about EDC and the Trade Confidence Index, visit Trade Confidence Index.

Found in: Canada Exports Trade Confidence Index

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