Recovery Gains Momentum: Canada’s Two-Year International Trade Outlook—April 2021

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Recovery Gains Momentum: Canada’s Two-Year International Trade Outlook—April 2021

Canadian Economic Analysis

Author: Signal49 Research

$225.00

  • Strong U.S. demand will boost Canadian merchandise exports over the next two years.
  • Once the threat of the pandemic retreats and restrictions are eased, domestic demand will bounce back strongly, firing up the merchandise import sector.
  • With COVID-19 variant infections on the rise in many parts of the world, tight travel restrictions will not be lifted any time soon. This will continue to weigh on non-merchandise trade activity for a good part of 2021.
  • The current account deficit will improve somewhat in 2021 but will then deepen again in 2022.
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This quarterly economic forecast presents the medium-term outlook for the Canadian economy. This release focuses on international trade. For an overview of all major components of the economy, go to the Canadian Outlook main page.

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