Despite lower exports to the United States, Canada’s overall exports rose in May.
In a sign of Canadian economic resilience, our exports rose overall in May, despite a decline in exports to the U.S.
Canadian exports to the U.S. dropped 0.9%, the fourth consecutive decline. However, overall exports were up 1.1%.
Canada’s consumer goods exports rose 2.6%, and metal and non-metallic mineral product exports rose 15.1%.
Energy product exports declined 5.6%
Record high exports to non-US trade partners
While those who advocate for Canada submit to all the demands of the Trump Administration like to portray Canada as being without options, that is not the case.
In fact, despite lower exports to both the U.S. and China, overall Canadian exports to non-U.S. partners hit a record high. Exports to the UK, Italy, and Singapore in particular rose substantially.
While trade with the U.S. will always be important to Canada, there are many countries that want to buy our products and services, and there are many products and services from other countries that Canadian consumers and businesses wish to purchase. With Europe and Asia seeking stable, democratic energy suppliers, and with the increasing digitization of the economy making geographical distance less and less relevant, Canada’s energy-rich, well-educated population is poised to take advantage.
Thus, it is quite feasible for Canada to, over time, continue shifting more and more of our exports to other trade partners.
Spencer Fernando
Image – YouTube
I write for a Canada that defends itself, governs itself, builds boldly, and stands with its democratic friends. If you want that case made week after week, support the work. For $8 a month on Patreon, you get the full-length essays behind these short pieces, and the complete archive.