Media and Resources

Economic and Fiscal Update for Canada – 19 April 2021

Summary:

A new Economic Update for Canadaprepared by the New Zealand High Commission in Ottawa with assistance from NZTE has been published  – we hope it is of interest to you.

It includes details on:

  • The impact of Covid-19 in Canada on New Zealand exporters
  • Current state of the Candian economy
  • The OECD review of Canada

It is also available as a PDF Download.   

One year on from the first impacts of the COVID-19 pandemic, overall New Zealand exports to Canada have fallen, from $1.2 billion (to year end 2019) to $1.09 billion (to year end 2020). Tourism and transportation services have contributed most to this fall – but other key goods exports such as beef/lamb, and wine have increased. 

The Canadian economy has taken a huge hit over the course of the COVID-19 pandemic – but some key indicators saw signs of improvement in late 2020. Generally speaking, the sectors most impacted in Canada by COVID-19 are similar to those impacted in New Zealand (air transportation, accommodation, tourism) whereas other sectors (finance and insurance, technology, real estate and agriculture) have bounced back from the initial shock.

You are welcome to share, distribute, re-use and re-publish this report as you see fit, as long as no substantive changes are made, and it continues to be attributed to the Ministry.  

You can view the complete list of market reports published to date here:

www.mfat.govt.nz/market-reports/

You can view all reports from the Americas here.

source: New Zealand Ministry of Foreign Affairs and Trade  | Manatū Aorere


Economic and Fiscal Update for Canada – 11 December 2020

Summary:

A new Economic and Fiscal Update for Canadaprepared by the New Zealand High Commission in Ottawa has been published  – we hope it is of interest to you.

It includes details on:

  • Recent initiatives by the Canadian Federal Government to support the economy
  • An overview of economic indicators
  • Government compensation for agricultural supply management industries

It is also available as a PDF Download.  

You are welcome to share, distribute, re-use and re-publish this report as you see fit, as long as no substantive changes are made, and it continues to be attributed to the Ministry.  

You can view the complete list of market reports published to date here:

www.mfat.govt.nz/market-reports/

You can view all reports from the Americas here.   

You are welcome to suggest topics of interest for future reports or provide thoughts and feedback about any of the reports above.

source: New Zealand Ministry of Foreign Affairs and Trade  | Manatū Aorere


Economic and Fiscal Update for Canada – 11th July 2020

Summary:

  • On 8 July the Canadian federal government unveiled an economic and fiscal update – described as a snapshot of where the economy is right now.
  • This is the first update offered by the federal government since the December 2019 update (the only one since the Liberal government formed a minority government after the October 2019 election). The March 2020 budget was not tabled because of COVID-19.
  • Net federal debt is set to hit CAD$1.7 trillion in 2021 – a number never seen before in Canada. However, as a proportion of GDP – nearly 50% – the Government and commentators see this as a very manageable debt level.
  • Annual federal deficit for 2020-21 is expected to rise to CAD$343.20 billion, in large part due to the CAD$212 in direct support measures the government has provided to Canadians in response to the pandemic.
  • The Canadian economy is projected to shrink by 6.8% in 2020, before coming back by 5.5% in 2021.
  • The federal government’s revenues are expected to decline to CAD$268.8 billion in 2020-21, from a projected CAD$341 billion in 2019-20.

This has also been published to the MFAT website here.   

You can view the complete list of market reports published to date here: www.mfat.govt.nz/market-reports/

source: New Zealand Ministry of Foreign Affairs and Trade  | Manatū Aorere


Monitoring International Supply Chains – 22nd June 2020

As part of its work to ensure international supply chains function as well as possible through COVID, MFAT has been using its network of Posts to monitor how international sea and air ports, and domestic logistics are operating. This fortnightly report provides a snapshot of how international supply chains are functioning, as well as international actions to support supply chains, and issues of interest to New Zealand firms.

This has also been published to the MFAT website here.   

You can view the complete list of market reports published to date here: www.mfat.govt.nz/market-reports/

source: New Zealand Ministry of Foreign Affairs and Trade | Manatū Aorere


Market Update for Canada – 3rd June 2020

Summary:

  • Considering the impact that COVID-19 has had on economies around the world – including in Canada – New Zealand goods exports to Canada did not perform too badly through March/April 2020 (the peak of the COVID-19 pandemic in New Zealand and Canada).
  • In April 2020, overall goods exports decreased by 5.75 percent compared to April 2019. But this impact was lessened given higher exports over previous months – in the year to April 2020 good exports to Canada were up by 7.35 percent compared to the year to April 2019.
  • Unsurprisingly there has been a significant impact on tourism and transportation service exports to Canada (which together made up 34.21 percent of New Zealand’s total exports to Canada in 2019). This will have an enduring impact on New Zealand’s total exports to Canada through 2020 and beyond.

source: New Zealand Ministry of Foreign Affairs and Trade | Manatū Aorere

Can NZ Facts is CNZBC’s periodic newsletter that we send out to our members, keeping them informed of what is going on with CNZBC and other timely news items that we feel would be relevant to our members.

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