Stuart Bergman

Vice-President and Chief Economist
Export Development Canada


A hard road ahead

The global economy faces a challenging journey. While a global recession and deep economic contraction aren’t in our base-case forecast, some countries will fall into recession, while others will barely scrape the surface.

EDC Economics expects the global economy to grow by just 2.3% in 2023, its slowest pace since the global financial crisis, with the exception of 2020. Slowing global demand and increased volatility will require Canadian exporters to tune up their risk management systems and stay alert.

The outlook for the United States is softer, but Europe’s economy will experience a severe recession. China’s move away from zero-COVID-19 policies complicates economic policy objectives, but more government support is likely to occur to maintain growth.

Export Development Canada’s winter 2023 Global Economic Outlook is a must-read, packed with valuable information as well as insights on the world’s key economies, interest rates, commodity prices and exchange rates.

Forecast table of GDP growth rates for select countries and regions


Forecast table of interest rates, exchange rates and U.S. housing starts


Forecast table of prices for oil, natural gas, gold and copper


Globe rests on a table

Geopolitical economic impacts

Key economic indicators will show how geopolitical tensions, as well as supply chain issues, have impacted the global economy and the outlook for 2023 and beyond.


Businessman prepares to cross street in busy downtown

Interest and exchange rates

Take a look at key interest and exchange rates for Canada, Europe and the United States.


Sun sets over oil rig

Commodity prices

Find out how commodities, like oil, natural gas, copper and gold, are performing globally.



Continue reading the Global Economic Outlook for more key insights.



Date modified: 2023-01-12