Canada’s goods exports and COVID-19
Despite a decline of $74 billion in 2020, commercial goods exports have recovered at record speed
Canadian goods exports demonstrated remarkable resilience in 2020, bucking expectations of a long, drawn-out collapse. While Canada’s gross domestic product fell by 5% during the 2009 economic crisis and in 2020 due to the pandemic, this time around, Canadian goods exports dropped by only half as much as they did in the previous recession.
Read this report by EDC Economics to learn more about the remarkable recovery in global trade, the best- and worst-performing sectors, and the critical role the United States and China played in Canada’s pandemic export performance.