Global Export Forecast—Autumn 2021
Get expert insights from EDC’s Economics team on the current trends influencing global trade and Canadian exports.
Canada’s overall trade performance has rebounded and recovered to pre-pandemic levels. However, with tightening labour conditions and supply chain bottlenecks, the global economic recovery will be uneven.
After sustaining a 13% drop in 2020, Canadian export growth is estimated to rise by 17% this year, and by just 3% in 2022. With strong demand continuing to power growth, EDC’s new Global Export Forecast expects the world economy to continue expanding at a rate well ahead of the long-term trend both this year and next. After 6% growth in 2021, the world economy is forecast to expand by 5.5% next year.
With COVID-19 still making its mark on the world economy and numerous sectors, our outlook is subject to a higher-than-usual degree of uncertainty. Checkout this report for detailed insights and the significant risks and opportunities facing our exporters over the next two years.