What is one of the most remarkable features of the Canadian economy in the past 15 years? The diversification of international trade to less-traditional global markets. The tech wreck, the thickening border with the US and the soaring loonie in the mid-2000’s turned the attention of Canada’s exporters to fast-growing emerging markets. In a relatively short time span, our trade with this rapidly-rising part of the global economy has risen from less than 5 per cent to almost 13 per cent of our merchandise exports. You’ve likely heard me and others say that before. But how are Canada’s provinces sharing in this neo-bonanza?

Great news: they are all participating in this transformation. Large and small, low- or high-value-added goods, west, east, central, already-diversified or highly concentrated – all provinces are in the game. A key message is that this is a broadly-based, deep-seated phenomenon that is not likely to go away, in spite of the opinions of some who see this as transitory. So, what are some of the other key features of export diversification at the provincial level?

This has been excerpted from a 21 August 2014 commentary by Peter Hall of EDC and is available in its entirety at:
http://www.edc.ca/EN/Knowledge-Centre/Subscriptions/Weekly-Commentary/Pages/trade-diversification.aspx