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Look beyond our borders and you’ll find almost limitless demand for canuck products and services in the fastest-growing major export markets on earth*. Here’s where International Trade Canada sees the best opportunities.
Import growth rate: 9.0%
Imports from Canada: $6.6 billion
China’s burgeoning wealth and voracious appetite for consumer products and natural resources make it one of the global economy’s biggest drivers. Its need for better infrastructure spells opportunities to improve air, land and seaway transportation networks, water-supply treatment and telecommunications. Rising health concerns are boosting imports of medical equipment, mainly for imaging, diagnostics and cancer treatment, a sector in which Canada is a world leader. And China is looking for management services to improve its abilities in the areas of marketing, human-resources management and attracting capital.
Import growth rate: 7.3%
Imports from Canada: $1.0 billion
India’s accelerating growth has it on track to become one of the world’s top five economies within 30 years. It already has the fifth-biggest telecommunications network, with a customer base that will reach 250 million by the end of 2007. That means big opportunities for exporters of telecommunications products. India’s commitment to provide electricity to all its 1.2 billion people by 2012 is driving prospects in the power generation sector. And transportation infrastructure is hot, since the country’s roads, railways, ports and airports all need upgrading to keep the economy humming.
Import growth rate: 6.3%
Imports from Canada: $3.1 billion
Our NAFTA partner’s economy and population are growing briskly under a government committed to economic reform. Demand for natural gas is forecast to double in the next 10 years, and privatizing energy firms will be open to joint projects with Canadian partners in energy, especially natural gas distribution and storage. Telecommunications deregulation is creating possibilities in the information and communications technology sector. And the booming US$30.5-billion auto industry offers major sales opportunities, including engine parts, logistics, and steering and air-conditioning systems.
*Based on Export Development Canada’s forecast of annual growth rate in imports from Canada, 2007-10, by countries buying at least $1 billion per year from Canada