Monday, January 19, 2009

Canada Exporters Rate Largest US Market as ‘Risky’

(Journal of Commerce)

Canadian exporters for the first time see their largest business partner, the United States, as their riskiest market, according to a survey run by the Export Development Corp.

The EDC, a government-owned corporation that provides loans and guarantees to exporters — more usually to emerging and otherwise risky markets — in a semi-annual report on exporters’ business confidence said there is “a growing sense of gloom.”

The index of overall export confidence in Canada has fallen from 66.1 to 61.0 in the past six months, the lowest level since reporting began in 2000, the EDC said. Canadian exports overall are expected to slide 5.1 percent this year. Read more here.