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An Update - Canadian Non-Energy Exports: Past Performance and Future Prospects

Author

Listed:
  • André Binette
  • Daniel de Munnik
  • Julie Melanson

Abstract

In light of the fact that Canada was continuing to lose market share in the United States, Binette, de Munnik and Gouin-Bonenfant (2014) studied 31 Canadian non-energy export (NEX) categories to assess their individual performance. From this list, about half were expected to lead the recovery in exports. Since that time, NEX growth has picked up: about 80 per cent of the 31 categories have grown in line with, or outperformed, their respective U.S. benchmarks. Furthermore, about half are currently showing upward momentum. Many export categories highly sensitive to the exchange rate have been a key source of strength, as they benefited from the further depreciation of the Canadian dollar. In addition, a more granular analysis finds that export product categories are emerging or re-emerging from low levels. On the downside, however, some categories closely linked to commodity prices have been affected by weak activity and lower prices.

Suggested Citation

  • André Binette & Daniel de Munnik & Julie Melanson, 2015. "An Update - Canadian Non-Energy Exports: Past Performance and Future Prospects," Discussion Papers 15-10, Bank of Canada.
    • Handle: RePEc:bca:bocadp:15-10
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    File URL: https://www.bankofcanada.ca/wp-content/uploads/2015/10/dp2015-101.pdf
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    References listed on IDEAS

    as
    1. Louis Morel, 2012. "A Foreign Activity Measure for Predicting Canadian Exports," Discussion Papers 12-1, Bank of Canada.
    2. André Binette & Daniel de Munnik & Émilien Gouin-Bonenfant, 2014. "Canadian Non-Energy Exports: Past Performance and Future Prospects," Discussion Papers 14-1, Bank of Canada.
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    Cited by:

    1. Mr. Itai Agur, 2016. "Products and Provinces: A Disaggregated Panel Analysis of Canada’s Manufacturing Exports," IMF Working Papers 2016/193, International Monetary Fund.
    2. Sharon Kozicki & Jill Vardy, 2017. "Communicating Uncertainty in Monetary Policy," Discussion Papers 17-14, Bank of Canada.

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    More about this item

    Keywords

    Balance of payments and components; Exchange rates; International topics;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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