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Services Exports are a Cure for the Declining Oil Blues

Posted March 27, 2015

Under International Trade Issues

(Danielle Goldfarb and Jacqueline Palladini – Macleans)

The Canadian public, media and business have been focused on the sharp decline in oil prices, and rightly so – Canada is a large oil exporter and is greatly affected by continued price volatility.

But the fixation on oil and other natural resources shouldn’t obscure our view of the other, perhaps less visible things Canada has to offer the world. In particular, there is a mostly “hidden” set of exports that account for some of Canada’s strongest trade growth: Services.

You can’t drop services on your foot or send them through a pipeline, and it’s hard to count them as they cross a border.They also cause less environmental damage. And prices don’t fluctuate wildly as they do for commodities. As a result, they get much less attention than more visible resources or goods. Click here to read more.