Thank you, Mr. Chairman.
Gentlemen, thank you for appearing before the committee.
In his initial presentation, Mr. Curtis said that the Canadian economy was strong and that exports were doing well. I want to be a little more specific. When I look at the figures, I note that exports increased this year by approximately 5.8 per cent, but this is mainly due to the increase in energy exports. Were it not for this boom in energy exports, particularly to the United States, this increase would be very slim, at a time when our imports increased by 6.6 per cent. This means that our imports increased much more rapidly than our exports. This concerns me.
Second, I note that the percentage of Canadian exports on the American market went from 87 per cent in 2002 to 84 per cent in 2004. In other words our share of the American market dropped, even if the absolute figures remain positive. The reason we are doing so well overall is because imports from the US to Canada are dropping faster than our exports to the US.
Things seem to be going well. However, slowly but surely, the Canadian economy's ability to be competitive, particularly compared to other economies, is falling. I want to know if you share my concerns. I am not saying that the house is on fire, but I think that we should consider the details and encourage our exporters to be more vigilant.
I want to conclude by saying that profits are at record levels, but investments are low. For example, in Quebec, this year, investments were less than one per cent. I'm a little concerned because, despite appearances, it seems that the Canadian economy remains an economy with clay feet. I'd like to hear your comments on this.