Canadian exports to rise by 12 per cent this year, sustain economic growth

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Canadian Press, On Tuesday May 10, 2011, 10:00 am
By The Canadian Press

OTTAWA - Canada's export development agency says it is expecting big things in the trade sector going forward.

The Crown corporation says it expects exports to grow by 12 per cent this year, following a 10.4 per cent expansion in 2010, and for the advance to continue in 2012.

That will be enough to recover all the lost business in foreign markets that occurred during the recession, the EDC says.

But the big promise for the sector is what happens in the future if companies can take advantage of opportunities in fast-growing emerging markets.

EDC chief economist Peter Hall says that at present trends, about half of all Canadian exports could be headed for Asia and other emerging markets by 2025.

He says such an occurrence would be a revolution for Canadian firms and a big boost for the economy in general.