One may guess that after housing, one of the bigger threats to the stability of the Canadian economy might be over trade and NAFTA negotiations.
But Tuesday’s spring report from Export Development Canada suggests it’s not expecting Donald Trump to upset Canadian exports just yet.
EDC is a Crown corporation that provides credit to Canadian exporters or their foreign customers.
It forecasts Canadian exports will grow by six per cent in 2017 and five per cent the year after, with a big bump from energy and aerospace followed by metals and ores all making positive contributions.
In titling the report Globalization at the Brink? the EDC is acknowledging geopolitical events, whether Brexit, or elections within the EU and the U.S., that all have common themes of nationalism and inward-looking economic policies.
Also, while current tensions surrounding softwood lumber and NAFTA can’t be dismissed, other sectors certainly have room to rebound.