June 23, 2023
According to the mid-year release of the Trade Confidence Index (TCI) results from Export Development Canada (EDC), exporter confidence has rebounded nearly five points.
The index score now sits at 68.6 after three consecutive drops but remains below the historical average of 72.9 and the 69.1 score from June 2022.
EDC notes that the rise in confidence was reflected across all Canadian regions and business sizes - though only a modest increase was tracked with medium-sized businesses.
Even with numerous challenges, exporters remained steady in their intention to export to new markets, with 68% of respondents planning to export to new countries. Additionally, 27% plan to invest outside Canada, up five percentage points since the last round.
Export Development Canada's Trade Confidence Index captures the perspectives of more than 1,600 Canadian exporters a year and reveals information not readily available in traditional trade statistics. The biannual index showcases the concerns and expectations of Canadian companies for the future, and their evolving international strategies.
Source: EDC