July 15, 2024

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Top 10 places for Canadian exports

Top 10 places for Canadian exports

United States, China And United Kingdom Canadian product tops export targets by 2021

After exporting goods to $ 285,000 million in 2020, Canada raised this index to 378,000 million in 2021.

Last year, the United States captured 75.4% of Canada’s total exports.

Take into account: Canada is the second largest country in the world, and most of its population lives within 200 kilometers of the US border.

At the regional level, the agreement between MexicoUSA and Canada (USMCA) Came into force on July 1, 2020. The USMCA protects the essential trade benefits of the North American Free Trade Agreement (NAFTA), which includes existing tariff obligations and includes new and updated rules for resolving trade problems in the 21st century.

After the United States, in 2021 Canadian exports went to China ($ 23 billion) and the United Kingdom ($ 13 billion).

Other important places: Japan ($ 11 billion), Mexico ($ 7 billion), Germany (5,000 million), Republic of Korea (5,000 million), Netherlands (4,000 million), France (3,000 million) and Belgium (3,000 million).

Canadian Exports

The OECD expects Canada’s economic recovery to accelerate from 2022.

Canada has now surpassed its pre-epidemic GDP GDP level of 0.2% in the fourth quarter of 2019.

International supply chain disruptions are far more widespread and persistent than previously thought.

According to the OECD, the gradual elimination of barriers will allow domestic demand to be released at a higher rate, especially from households with significant savings during epidemics.

Strong home consumption and rising business investment will help offset moderate levels of home investment from the high levels seen earlier this year.

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As manufacturers of auto and auto parts manufacturers increase production, exports of goods will expand, and strengthening global demand will further support growth.

In the perspective of OECDStrong production growth will support higher labor demand and help reduce unemployment to a pre-epidemic level.

Inflation should ease as energy price pressures ease and supply barriers will be resolved by 2022.

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