Canada Exports reflect the value of goods sold by residents to non-residents, expressed in US dollars. The dollar calculation of the export value provides for a proper comparison of Canada's exports with other countries and a correct evaluation of trade statistics. Economists use the indicator to evaluate the structure and intensity of trade flows.
When exports exceed imports, a trade surplus is formed. It is an indication of high production level. It also shows that the nation produces more goods and services than it can consume.
Among Canada's top exports are raw materials, including oil. Therefore, a change in the exports volume is an important factor in evaluating economic situation. This indicator is an important component of the country's GDP.
However, the impact of exports on Canadian dollar quotes is ambiguous and depends on the context of business cycles and other economic indicators, such as production dynamics. For example, in economy recession conditions, the country may begin to export more in order to create jobs. Non-residents need to purchase the Canadian dollar in order to pay to the supplier for export deliveries. Therefore exports growth may have a positive effect on CAD quotes.
The chart of the entire available history of the "Canada Exports" macroeconomic indicator.
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