Forex United States Session News – Canadian Exports expected to grow to 12%

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The Canadian export credit agency has forecasted the country’s exports should exhibit a 12% growth this year and by next year they will return to the pre-recession levels. This is likely to be due to the slow economic momentum in the US , Canada is taking advantage of and currently is ahead of. It is known that the two countries tend to be competitive against each other and with the US falling behind, Canada is taking the opportunity to increase its exports.

Canada, which is the top supplier of energy to the States, has seen around a quarter of its exports being eliminated following the results of the global economic recession. The combination of a decline in U.S. sales, with a stronger Canadian dollar, has given a new push to a recurrent debate on whether dependence on the US should be limited and a diversification of the markets.