EDC has adjusted its focus and solutions to reflect the challenges facing Canadian exporters during the COVID-19 pandemic. To learn more, click here

 

 

Peter G. Hall

Vice-President and Chief Economist
Export Development Canada

 


To immunity and beyond!

The statistics on vaccine distribution seem to be improving just about everywhere, and as a more generalized reopening seems imminent, businesses are gearing up for a surge of activity.

Export Development Canada’s Global Economic Outlook is a must-read, packed with valuable information on the dynamics of this growth and its impact on the world’s key economies, commodity prices, interest rates and exchange rates.

We have revised up growth for 2021 in the U.S. economy to a whopping 7.1%. Emerging economies will see explosive gains as the industrialized world feeds global demand for goods and services. Collectively, emerging market growth will reach 6.5% this year and accelerate further to 6.8% in 2022. As such, world growth will hit an outsized 6.3% for 2021 followed by a very impressive 5.7% next year.

The rise in global demand will be the main driver in Canada’s near-term growth, which is forecast at a stunning 6.1% this year and an impressive 4% in 2022.

While the road will have a few bumps along the way, including a possible rise in inflation and skilled labour shortage, it’s going to be one of the most exhilarating economic rides we have seen in a long time.


GEO overview

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

COVID-19 economic impacts

Key economic indicators will show how the coronavirus has impacted the global economy and the outlook for 2021. 


 

Businessman prepares to cross street in busy downtown

Interest and exchange rates

A look at key economic indicators in the United States and Canada, including housing starts and GDP.


 

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 valuable insights.