This is chapter 5 of the Standards benefits for industry orientation module. A transcript of the video follows below.
Chapter 5 - Taking action.
Small and medium-sized businesses form the largest group of Canadian exporters, accounting for more than three quarters of all export activity. This means that these businesses are essential to Canada’s economic growth
Many Canadian exporters are now expanding beyond Canada’s traditional trading partners. Canada’s exports to non-U.S. markets grew by 8.1% in 2010 with experts predicting potential for more gains as Canada continues to expand its export trade activities.
Diversifying into previously untapped trade markets is becoming more important for Canadian exporters. Exports to emerging markets have been growing every year over the past decade and now account for over a quarter of all Canadian exports.
Growth in emerging markets is now outpacing growth in OECD markets. Experts predict that emerging markets are likely to account for 20% by 2016 and possibly 50% of Canada’s merchandise trade by 2025.
Despite these positive growth trends, since 2005 the number of active Canadian exporters has been decreasing. In 2008, 51,648 exporters were operating in Canada. In 2009, this number decreased to 47,637, provoking a decline in total merchandise sales value of more than 25% in a matter of just one year alone.
Imports largely outnumbered exports in many sectors in 2011, reversing recent surpluses and widening an already growing trade deficit.
To reverse such trends in Canadian global export performance, greater investment in market potentials, and stronger resource frameworks for Canadian exporters like you are needed.
The competitive advantage provided to Canadian exporters by standards and conformity assessment solutions make standardization a key component of the frameworks that are necessary to Canada’s influence and effectiveness on the global scene.
Armed with the necessary knowledge, tools and information to help you navigate global markets, you and your business have the potential for effective international expansion.
As you grow your business beyond Canada’s borders, understanding your standardization options will not only improve your operations, but also expand your company’s potential for growth and innovation.
Remember: SCC is a valuable resource to help your business reach its global potential.
Contact us to learn about becoming involved in standards development and/or choosing the standards ad conformity assessment solutions that are right for you.