Wednesday, June 30, 2010

Canada’s Day

(Export Development Canada – Peter G. Hall)

Canada is capturing world attention on a number of fronts these days. Although better known for our diminutive, self-effacing persona, Canadians could be forgiven for taking special pride in key recent developments. These are especially welcome, given the general abundance of bad international news in the past 24 months, and are a boost to Canada ahead of the coming economic recovery. […]

Canadian exporters also seem to be showing a new openness to international trade. As years of steady currency appreciation eroded our competitiveness with our key trading partner, Canadians began to diversify. Exports to non-traditional destinations swelled at an impressive annual pace toward the end of the last growth cycle, lifting the share of non-US trade from 13% in 2002 up to 22% by 2008. Recession did not interrupt this foray, and sustained strength of the loonie suggests that Canadian exporters will forge ahead, further extending the diversification of our trade activities. […]

…Worries aplenty dog the global economy, but in the midst of the mayhem, Canada has chalked up significant key wins that give hope for continued future success. Happy Canada Day! Read more or watch the video here.