Canada-EU: A larger Serving of Services Exports
Management services, financial services, research and development, architectural, engineering and other technical services account for some of Canada’s largest commercial services exports to the European Union (EU).
Data: Statistics Canada
Source: Office of the Chief Economist, Global Affairs Canada
Canadian Commercial Services Exports to the EU (Billions $)
|Canadian Commercial Services Exports to the EU||(Billions $)|
|Services Exports in 1990||$1,098|
|Services Exports in 1992||$1,359|
|Services Exports in 1994||$1,796|
|Services Exports in 1996||$2,360|
|Services Exports in 1998||$3,478|
|Services Exports in 2000||$4,213|
|Services Exports in 2002||$4,819|
|Services Exports in 2004||$5,401|
|Services Exports in 2006||$7,824|
|Services Exports in 2008||$7,498|
|Services Exports in 2010||$7,869|
|Services Exports in 2012||$8,146|
|Services Exports in 2014||$10,709|
|Services Exports in 2016||$10,877|
Canada exports these and a wide variety of other commercial services to the EU, our most important destination for commercial services exports after the United States.
With $10.9 billion in commercial services exports in 2016, the EU accounted for 44 percent of all Canadian commercial service exports destined outside of the United States.
The EU is now Canada’s fastest growing market for commercial services. Commercial services exports to the EU have been rising steadily since 2000, growing at an annual average rate of 6.1 percent—faster than the 4.3 percent growth to the Unites States.
Commercial services exports are also outpacing Canadian goods exports to the EU, which grew at an annual rate of 3.5 percent over the same period.
Canadian exports of both goods and services to the EU have been increasing for several years. The implementation of Canada‑European Union Comprehensive Economic and Trade Agreement (CETA) will give Canadian companies an even greater opportunity to provide their top quality services, expertise and skills to the European market.
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