Mr. Speaker, Statistics Canada's report on Canadian international trade for 1999 confirms that the federal government's economic policies and fiscal management have laid the groundwork for a booming trade economy.
Our annual trade balance with the rest of the world was just under $34 billion in 1999, its highest level since 1996. Our volume of exports grew at almost twice the pace of imports.
In 1999 we exported over $360.6 billion worth of goods; 11.9% more than in 1998. Much of this growth can be attributed to increased domestic capacity in the automotive industry and high demand for Canadian built models in the United States. Our television and telecommunications equipment industry also contributed significantly.
Overall, the resulting trade balance for 1999 was the third highest on record for Canada.