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<title>CANADA'S MERCHANDISE TRADE PERFORMANCE IN 1997 SHOWS RECORD LEVEL FOR EXPORTS</title>
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<p><font face="Courier"></font><font face="Univers" size="+2"></font><font face="Univers" size="+2">February 19, 1998 No. 35</font></p>
<p align="CENTER"><font face="Univers" size="+2">CANADA'S MERCHANDISE TRADE PERFORMANCE IN 1997 SHOWS
RECORD LEVEL FOR EXPORTS</font></p>
<p><font face="Courier">The Department of Foreign Affairs and International Trade today issued the
following statement:</font></p>
<p><font face="Courier">Statistics Canada today released figures on Canada's 1997 trade performance which
show continued vigorous growth of Canadian exports, to a record level of $301
billion. A strong inflation-adjusted growth performance of 9 percent compared
favourably with growth of 5.8 percent in 1996. Export expansion in December was
the strongest monthly export growth since January 1997. This record level of
exports by Canadian firms contributed to additional jobs for Canadians and to
financing of a higher level of imports by consumers and firms. </font></p>
<p><font face="Courier">Imports also grew to reach a record level of $278.2 billion -- an inflation-adjusted growth of 18.7 percent. Strong business confidence and higher income
prospects, as well as savings-financed consumer spending, have resulted in
increased import demand by Canadian firms and consumers. Many of these imports,
such as machinery and equipment, will promote further expansion of the Canadian
economy. </font></p>
<p><font face="Courier">Canada's trade surplus in 1997 was a healthy $23.1 billion, lower than the banner
years of 1995 and 1996 but much larger than in the 1980s and early 1990s.</font></p>
<p align="CENTER"><font face="Courier">- 30 -</font></p>
<p><font face="Courier">For further information, media representatives may contact:</font></p>
<p><font face="Courier">Leslie Swartman Media Relations Office</font></p>
<p><font face="Courier">Office of the Minister Department of Foreign Affairs </font></p>
<p><font face="Courier">for International Trade and International Trade</font></p>
<p><font face="Courier">(613) 992-7332 (613) 995-1874</font></p>
<p><font face="Courier">This document is also available on the Department's Internet site:
http://www.dfait-maeci.gc.ca</font></p>
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