VANCOUVER – An HSBC study says the number of Canadian firms expecting higher international trade volume is at the highest level since 2010, when the global bank began tracking the trends.
Canada’s rating on the HSBC Trade Confidence Index has risen to 115, matching the level found in the United States, and above the four-year Canadian average of 111.
The index is intended to track expectations for the first half of 2014, based on data compiled in November and December from 23 markets.
HSBC’s analysis found 60 per cent of respondents from the Canadian wholesale/retail sector and 55 per cent from the manufacturing sector said they expect greater trade volumes.
HSBC noted that Canada’s export performance faltered in 2012 and 2013 as a result of weak demand from other countries.