Full resolution (JPEG) - On this page / på denna sida - Significans of Word Trade to Canada, by C. D. Howe
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Great Britain, long our largest export market, is still second in importance,
taking nearly one quarter of our exports and providing us with about one-
ninth of our imports. The rest of the Sterling Area, Continental Europe, and
Latin America represent smaller markets and sources in overall trading,
although they are very significant for numerous individual Canadian producers.
The world shortage of dollars persists, in spite of the amazing recovery
in Western Europe and other areas, due to the efforts of the peoples themselves
and of the assistance which they have received from North America through
Marshall aid and other loans and gifts. Devaluation of sterling and of many
other currencies in September, 1949, has done much to bring British and
European prices more into line with those in dollar countries. But the improve-
ment is not yet enough. A continuing dollar shortage is leading many of the
soft-currency countries to intensify their restrictions against dollar purchases
to the detriment of Canadian exporters.
What Canada sells to the Sterling Area and to other parts of the non-
dollar world is becoming more and more dependent upon what those areas
can sell to Canada. Considerable progress has been made in promoting these
sales, and private businessmen on both sides of the Atlantic are showing great
initiative and drive in creating favourable conditions. The Dollar-Sterling
Trade Board, in Canada, has been supplemented by a committee recently
formed to encourage Canadian investment in the Sterling Area. Not only
must Canadians indicate a willingness to buy foreign goods, but the foreign
producers must study the Canadian market and provide the goods that are
wanted, at reasonable prices and with satisfactory delivery dates. The large
Canadian market presents a challenge to world manufacturers.
It is naturally to be expected that
a rising flow of imports will involve
competition for Canadian producers
in certain lines. As long as such com-
petition is within the bounds of fair
trading it is desirable in promoting a
healthy Canadian and world economy.
We believe in the merits of competi-
tion and individual initiative and are
willing to give other countries the
opportunity to apply their ingenuity
in the Canadian market.
The trading position of Canada
and of other countries depends for its
future health upon the willingness of
producers in all countries to adopt a
positive approach to the problems
which face them.
Unloading flour in Great Britain
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