According to an EDC poll of 811 exporters across Canada, the nation’s exporters are much more optimistic today than they were last fall regarding business opportunities, international and domestic sales, and the national and global economic outlook. In fall 2011, EDC’s Trade Confidence Index (TCI) had slumped to one of the lowest levels ever recorded (67). But by this spring, it had surged to 75.9, a level consistent with a normal economic outlook.
A sign of renewed confidence, 60% of the exporters polled are projecting stronger export sales in the next two quarters, while 56% are planning to expand into one or more new markets in the next two years. For EDC, this means that businesses are looking to diversify and capitalize on the U.S. recovery.
These figures explain the optimism of Peter Hall, EDC’s chief economist, at the “Let’s talk exports” conference on May 30.
To learn more:
EDC press release of June 7: More than half of Canadian exporters plan to expand in new markets in next two years
EDC press release of June 8: Strong rebound in Canadian exporter confidence: EDC Survey