Let trade data help you expand your exports

February 20, 2012 - TAGS: Market research, Export

Most Canadian companies look to the United States first when they start exporting because it is geographically close and its citizens share many of our language and cultural traits. However, the economic situation in the United States has Canadian companies looking to other markets.

From 2005 to 2010, Canadian exports to the United States decreased by 18%, from $366 billion to $299 billion. At the same time, Canadian exports to other countries increased by 42%, from $71 billion to $100 billion. While some Canadian companies felt the impact of the U.S. slowdown, others saw an opportunity to find success in alternative markets.

If your company is interested in exploring different export markets, Industry Canada's Trade Data Online can help you find the data you need to help put together your export plan. Using the “Search by Product” option you can find plenty of information to help you decide which countries to investigate.

You can download this type of data and more from Trade Data Online to use for your own analysis and calculations.

Looking at the trade data can be interesting and eye opening, but it is just the starting point in the development of an export plan. Once you have identified possible markets to target, the trade offices and market reports of the Trade Commissioner Service can help you learn more about the international opportunities for your company.

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