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

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.

The Upshot

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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