Canadian exporters better prepared to deal with dollar at parity

OTTAWA, June 5, 2012 /CNW/ - A national survey of Canadian exporters found that after years of a higher Canadian dollar relative to the U.S. dollar, they have now factored the impact into their overall operations.

The Trade Confidence Index, a bi-annual survey by Export Development Canada (EDC), asked Canadian exporters about their efforts to deal with a consistently higher dollar.

More than 75 per cent Canadian exporters said that the impact of the higher dollar is medium to high.

95 per cent of Canadian exporters said they were either reasonably or very prepared to operate in an environment where the Canadian dollar is at parity with the U.S. dollar.

High commodity prices, have kept the Canadian dollar near parity through global hard times," said Peter Hall, Chief Economist, EDC.

"As the U.S. and global economies improve, higher economic flows will draw liquidity back into normal channels, weakening commodity prices. Lower commodity prices will hold the loonie just below parity, helping Canadian exporters to cash in on the global recovery."

The Trade Confidence Index survey report will be released on Friday.

EDC is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by more than 7,700 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and a recognized leader in financial reporting and economic analysis.

SOURCE Export Development Canada

For further information:

Media contact: 

Phil Taylor
Export Development Canada
Tel: (613) 598-2904

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