Canadian trade and investment: USA or bust?
William Polushin is founding director of the Program for International Competitiveness at the Desautels Faculty of Management, Ï㽶ÊÓƵ, and President of AMAXIS, an international business and operational development services firm.
Building on my previous blog entries, the transition from Canada: The Trading Nation to Canada: A Nation of Traders requires, among other key factors, both an appreciable increase in the number of Canadian enterprises actively and profitably exporting or investing in international markets and a broadening and deepening of our international trade and investment relationships.
Of the 47,637 exporting establishments in Canada*, 56.6 per cent export only to the United States, another 22.8 per cent export to the U.S. and at least one other international market, and 20.7 per cent export only to destinations other than the United States. Without a doubt, the U.S. looms large on our country's trade horizon.
That said, the rise of China, India, Brazil, Mexico and other developing economies around the world, and the drive for market diversification by both corporate Canada and the federal and provincial governments are helping to reshape Canada's international trade and investment position. While the United States is -- and will continue to be -- Canada's largest and most important trading partner by a wide margin, an increasing percentage of Canadian exports, imports, foreign direct investment inflows, and Canadian direct investment abroad is going to or originating from other countries. The following charts illustrate this shift.
Read full article: , August 31, 2011
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