The latest HSBC Global Connections Trade Forecast advises that global economic activity is expected to strengthen over the coming year, and increased momentum in the United States and China should lift Canada’s exports in the short run. In the longer term, Canada’s ability to access fast-growing emerging markets is dependent on an increase in energy infrastructure capacity.
The recent weakening of Canada’s world export share has led firms to begin diversifying their trade routes toward Mexico and broader Asia, the report says. By 2017, China will take the lead as the fastest-growing market for Canadian exports. By 2017, imports from India, Turkey, and China will show the strongest growth.
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