State of Trade Issue 2: Canada Takes Leadership Role in World Export Markets
Canada’s growing exports confirm its status as a global trade champion, says Minister Fast
January 23, 2014 - The Honourable Ed Fast, Minister of International Trade, today highlighted some of the findings from Canada’s State of Trade: Trade and Investment Update 2013, a publication of Foreign Affairs, Trade and Development Canada.
“Our government’s top priority is the economy and creating jobs and opportunities for hard-working Canadians and their families,” said Minister Fast. “We know that trade and investment are the twin engines of growth for both the Canadian and global economies. Our leadership role on the world stage for free and open trade is backed by an economic and trade performance that shows that Canada truly is a global champion of trade.”
According to the State of Trade report, Canada’s total exports of goods and services around the world expanded while global trade stagnated. Data also show that $1.13 trillion worth of Canadian goods and services were traded in 2012, a new record high in this country. Canada rose from 13th to 12th place in the ranking of the world’s leading exporters of merchandise, with $455 billion in total exports. The passenger-cars category contributed the largest overall change to Canada’s trade balance in 2012 (up $4.9 billion) and also generated Canada’s second-largest surplus ($21 billion). In 2012, Canada’s exports of passenger cars jumped 19.1 percent and exports of motor-vehicle parts increased 9 percent.
In services exports, Canada went up one position from 18th to 17th place, while greater imports improved the country’s global ranking from 12th to 11th.
Canada’s State of Trade: Trade and Investment Update was released on December 27, 2013. It provides an annual overview of trends in international trade in goods and services. It includes numerous figures and tables detailing Canada’s performance in key markets, reports on trade and investment with NAFTA countries, updates of progress made under other free trade agreements and summaries of Canada’s current and financial accounts with the United States, the European Union, Japan and other trading partners.
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For further information, media representatives may contact:
Office of the Honourable Ed Fast
Minister of International Trade
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