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Canada's State of Trade: Trade and Investment Update 2009

Backgrounder
Canada's State of Trade: Trade and Investment Update 2009 is Foreign Affairs and International Trade Canada’s annual flagship report highlighting Canada's international trade and investment at home and abroad in 2008.

Highlights of this year’s publication:

  • Canadian exports and imports of goods and services to and from nearly all major trading markets increased.
  • Canadian merchandise exports have seen double-digit increases for each of the so-called 'BRIC' countries over the past year: Brazil (71%), Russia (30%), India (35%) and China (10%).
  • Canadian exports of goods and services increased by 5.2 percent to $557.9 billion, while imports of goods and services advanced 6.3 percent to $533.3 billion.
  • Over the first half of 2008, trade values were greatly influenced by rising commodity prices. However, demand weakened as the global recession became entrenched, commodity prices fell, and trade began to weaken towards the end of the year.
  • Increases in the value of exports were registered for energy products, industrial goods and materials, and agricultural and fishing goods, as exports of machinery and equipment, forestry products, and consumer products declined.
  • The slowdown in the U.S. economy created severe difficulties in the automotive sector as Canadian manufacturers and auto parts industries experienced plant closures and cutbacks in production, output, and exports last year.
  • Canadian direct investment abroad surged by $121.8 billion, or 23.6 percent, to $637.3 billion last year.  Currency effects due to the depreciation of the Canadian dollar accounted for some 68 percent of the increase.
  • Inward investment reached $504.9 billion last year, up 2.8 percent increase over the previous year.

    Source:  Department of Foreign Affairs and International Trade Canada

    For more information, click here

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