Trade confidence amongst Canadian exporters falls to eight-year low

February 5, 2020

Trade confidence among Canadian exporters fell to its lowest level in nearly a decade, Canada’s export credit agency said on Tuesday, as businesses wrestle with protectionist policies and fret about the global economy.

In its biannual survey of 1,000 Canadian exporters, Export Development Canada (EDC) said its trade confidence index fell to 69.3% - the lowest level since 2012 and 6% below the survey’s historical average.

“The results, an eight-year low in confidence, suggest a soft start is likely for Canada’s exports in 2020,” Stephen Tapp, EDC’s deputy chief economist, said in a statement.

“Protectionism and concern about the global economy are key issues weighing on the minds of Canadian exporters.”...

This was excerpted from the 4 February 2020 edition of Reuters Canada.

Topic(s)

Exports

Information source

Canadian News Channel

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