Tuesday, September 21, 2010

EDC Business Volumes in Emerging Markets Up 28% over 2009

(Canada NewsWire)

Export Development Canada (EDC) today [Monday] announced that its business volumes in emerging markets reached $10.8 billion (all figures Canadian) in the first half of 2010, an increase of $2.4 billion, or 28%, over the same period last year.

“Emerging markets attracted Canadian exporters and investors looking for the best opportunities for growth during the first half, a positive trend for Canadian trade,” said Eric Siegel, President and CEO of EDC. “While some of this increase is influenced by continued slow growth in the U.S., EDC is encouraged because the types of transactions we’re seeing demonstrates a longer-term interest in emerging market business.”

Mr. Siegel added that EDC’s total business volume for the first half ending June 30, 2010 was $37.5 billion compared to $38.2 billion for the same period last year. Total business volume represents the sum of transactions supported throughout all of EDC’s business lines, including financing, guarantees, insurance, bonding and others.

“EDC’S business volumes are on par with the same period last year and on track to meet our forecast for year-end. These volumes are driven by Canadian companies expanding their relationships abroad, a positive trend as we slowly emerge from the global recession,” Mr. Siegel said. Read more here.