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 has declined sharply from the highs of 2021 and our June report and is well-below the survey’s historical average of 73.

Trade confidence is at 63.8

  

 

 

2. Concerns over an anticipated global slowdown and rising interest rates are having a negative impact on the overall business of Canadian companies. Survey respondents also fear that obtaining financing may be more difficult in the coming months.

(on left). 51% say global slowdown will have a big impact, (right). 69% say it will impact export sales, 15% say domestic sales


 

(on left) 43% say interest rate hikes negatively impact their business, (rigth) 58% say raised cost of borrowing an issue


 

 

 

3. While Canadian exporters are currently facing many challenges, they remain resilient—especially when it comes to diversifying. The majority of respondents to our survey indicated that they’re planning to expand to new markets.

Smiling Canadian exporter makes deal in London, England


 


Intent to diversify their export markets:

62% intend to diversify to other markets, down 2 percentage points since June

 

 

 

  

   

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

Top planned export destinations
% of respondents

United States 20% United Kingdom 16% Australia 15% Mexico 15% Germany 14%

 

 

 

About EDC’s Trade Confidence Index

This TCI survey was conducted between Oct. 12 and Nov. 3, and released on Dec. 8, 2022. Twice a year, EDC surveys Canadian exporters and businesses planning to export. The results are a pulse check of their level of confidence and expectations of international trade opportunities over the next six months.

 

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Date modified: 2018-12-18