More than half of Canadian exporters plan to expand in new markets in next two years

OTTAWA, June 7, 2012 /CNW/ - A national survey of Canadian exporters suggests that new, previously untapped markets will play an important part of their growth strategy over the next two years.

The Trade Confidence Index, a bi-annual survey by Export Development Canada (EDC), asked Canadian exporters about recent and future plans to enter new export markets.

Fifty-six per cent of Canadian exporters have planned to expand into a new market or markets within the next two years.

One in three Canadian exporters entered into new markets over the past two years.

"We are seeing stronger market diversification in Canada's trade numbers, but what we're hearing from exporters suggests that it's a trend that's about to pick up steam," said Peter Hall, Chief Economist, EDC.

"Then suppose the trend caught on in a big way, pushing sales to emerging markets up by just 3 per cent more each year. In this scenario, emerging markets would account for 50 per cent of Canada's total merchandise trade by 2025, and annual export growth would be 3.5 times the current pace. A pretty radical shift."

The Trade Confidence Index survey report will be released on Friday.

EDC is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by more than 7,700 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and a recognized leader in financial reporting and economic analysis.

Media contact:

Phil Taylor
Export Development Canada
Tel: [phone]