A growing number of Canadian firms are entering more than one international market as they start expanding beyond these borders, suggests a new survey by Export Development Canada (EDC). (The Logic)
Talking point: Sixty-five per cent of the respondents to the latest Trade Confidence Index, a twice-yearly online survey by the federal export credit agency, said they plan to enter new markets within the next two years. In 2015, 62 per cent of exporters chose to launch in the U.S., but last year only 34 per cent chose that path. Meanwhile, 43 per cent chose to start exporting to multiple markets, compared to 13 per cent a decade earlier. Europe and the Asia-Pacific were the top non-U.S. markets. “Humans are traders,” said Stuart Bergman, chief economist at EDC. “We will continue to trade for another 1,000 years. It’s just going to look a little bit different than it’s looked in the past.”
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