Exports in Canada
Canada - ExportsAfter gaining momentum in Q4 2021, the latest data suggests the economy grew at a robust—albeit slightly softer—rate in Q1. Looking at the month-by-month picture, economic activity growth was fairly mild in January due to Omicron, and poor weather affecting energy output. However, momentum accelerated in February as the impact of the pandemic faded, with strong growth recorded in manufacturing and customer-facing services. A flash estimate from Statistics Canada suggested another solid expansion in March. Other indicators for March were also positive: Unemployment continued to tumble and the manufacturing PMI reached an all-time high. In April, the government unveiled its FY 2022 budget, which included new measures to boost housing starts and affordability, accelerate the green energy transition and tackle living costs. That said, the budget deficit should still narrow sharply ahead.
Canada - Exports Data
|Exports (USD billion)||410||394||424||452||449|
5 years of economic forecasts for more than 30 economic indicators.
Canada Exports Chart
Source: Statistics Canada.
|Bond Yield||1.70||1.00 %||Dec 31|
|Exchange Rate||1.30||0.15 %||Jan 01|
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April 29, 2022
The economy expanded 1.1% on a month-on-month seasonally-adjusted basis in February, marking the fastest reading since March 2021 (January: 0.2% month-on-month). The reading was driven by broad-based growth, with both the services and goods-producing industries registering strong expansions.
April 20, 2022
According to the Teranet-National Bank Composite House Price Index, house prices increased 2.1% month-on-month on a non-seasonally-adjusted basis in March, which was above February’s 1.5% increase.
April 20, 2022
Consumer prices increased a seasonally-adjusted 0.88% from the previous month in March, picking up from the 0.75% increase seen in February.
April 19, 2022
Housing starts dipped to 246,243 units on a seasonally-adjusted annualized rate (SAAR) basis in March according to the Canada Mortgage and Housing Corporation (CMHC), from February’s 250,246-unit reading.
April 13, 2022
At its meeting on 13 April, the Bank of Canada (BoC) raised its target for the overnight rate to 1.00%, up from 0.50% in March, marking the second consecutive rate hike this year.