Export Development Canada’s Trade Confidence Index (TCI) captures the perspectives of more than 1,600 Canadian exporters a year and reveals information not readily available in traditional trade statistics. The biannual index showcases the concerns and expectations of Canadian companies for the future, and their evolving international strategies. EDC has conducted this survey since 1999.


 

Overall outlook: The TCI’s key findings

1. Canadian trade confidence plummets from last year’s highs and is below the survey’s historical average of 73.2.

Trade confidence is at 69.1

  

 

 

2. Significant headwinds from multiple sources, including inflation, the conflict in Ukraine and supply chain challenges, are impacting Canadian companies.

36% respondents are facing business challenges due to the war in Ukraine.


 

63% of respondents are impacted by global supply chain issues.


 

74% impacted by inflation

 

 

 

 

3. Diversification plans are being scaled back.

A significant number of respondents are scaling back plans to export or invest abroad due to the uncertain global economic environment and expectations around lengthy inflationary and supply chain impacts.

Farmer in corn field worries about supply chain issues.


 


Intent to diversify their export markets:

64% of exporters plan to diversify to new markets

 

 

 

  

   

For companies planning to start exporting to new destinations, there’s continued interest in the United States, United Kingdom, Mexico, Australia and Western Europe.

Top planned export destinations
% of respondents

United States 27% United Kingdom 20%  Mexico 18% Australia 16% Germany 15% France 14% Brazil 11% Netherlands 11% Japan 10% Belgium 10%

 

 

 

About EDC’s Trade Confidence Index

This TCI survey was April 19 to May 13, 2022, and released June 16, 2022. Twice a year, EDC surveys Canadian exporters and businesses planning to export. The results are a pulse check of Canadian exporters’ level of confidence and their expectations of international trade opportunities over the next six months.

 

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