One of the reasons Canadian exports overall have not increased as much as those of other countries is that our basket of tradable goods has changed substantially in the last 14 or 15 years. We have become much more an exporter of natural resources, and much less an exporter of manufactured goods. That has to do with increasing investments and expansion of the oil sands, and also the mining industry and potash. It also has to do with the overall increase in the value of the Canadian dollar, and the heightened level of competition from other countries, particularly from China, but also from other east Asian countries, and also from some Latin American countries, which are direct competitors with Canada inter-market. That has reduced Canadian exports of manufactured goods in real terms.
On May 13th, 2014. See this statement in context.