Five Ways Global Trade Will Change for Canada in 2016

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By Danielle Goldfarb, Canadian Business Jan 26, 2016

From free trade deals opening new doors to growing demand for high-value services, here are five trends to watch this year

The trade game has changed for Canada. Over the past decade, China’s and other emerging markets’ rapid economic growth created a surge in demand for Canada’s natural resources, driving gains in Canada’s exports and wealth. But now, the commodity super-cycle is drawing to a close, and Canada can no longer count on high resource prices. As we start 2016, it will be key for Canadian companies to look for new opportunities to grow their international business—and Canada’s living standards by extension. We have therefore identified 5 trade trends for 2016, based on Conference Board of Canada research.

Trend #1: The US economy is back!

Trade with the US essentially flat-lined over the past decade. But, fortunately for Canada, our dominant trading partner ‘s economy is rebounding. We expect robust growth in U.S. demand over the next few years. Forthcoming Conference Board of Canada research suggests that Canadian industries such as food manufacturing, commercial services, and machinery manufacturing could take advantage of this strong U.S. demand. That is, if they invest in their capacity and their people, and ensure their products and services can compete in the highly competitive U.S. market.

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