Global Export Forecast—Autumn 2021

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.