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<title>CANADA REGISTERS FIRST $100 BILLION EXPORT QUARTER</title>
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<p><font face="Arial" size="+1"></font><font face="Arial" size="+1"><strong>October 12, 2000 <em>(10:55 a.m. EDT)</em> No. 259</strong></font></p>
<p align="CENTER"><font face="Arial" size="+1"><strong>CANADA REGISTERS FIRST $100 BILLION EXPORT QUARTER</strong></font></p>
<p><font face="Arial">International Trade Minister Pierre Pettigrew announced today that Canada has a new
benchmark for exporting success. "The latest figures from Statistics Canada show that
Canada's exports of goods during the second quarter of 2000 surpassed $100 billion for
the first time in history. Clearly, Canada's trade success continues to build momentum,"
said Mr. Pettigrew. </font></p>
<p><font face="Arial">The figures, highlighted in the <em>Canadian Trade Review,</em> also reveal further evidence that
Canada is continuing its shift toward the new economy. Second-quarter high-tech and
other machinery and equipment exports were 10.7 percent higher than in the first
quarter.</font></p>
<p><font face="Arial">Canada's trade-driven economy is in robust health. Gross domestic product rose at an
annualized rate of 4.7 percent in the second quarter of 2000, marking the 36th increase
in the last 37 quarters. "Even with this growth I believe that the exporter population can
still be increased. There are many firms that should consider exporting, and I am
working to reach them through an aggressive domestic outreach program," the Minister
added.</font></p>
<p><font face="Arial">Canadian pre-tax corporate profits grew by 11.3 percent in the second quarter. Minister
Pettigrew noted that this growth benefits more than just the corporations. "This
remarkable growth creates immediate benefits for the 49 percent of adult Canadians
who the Toronto Stock Exchange estimates directly or indirectly own shares, as well as
significant spin-off benefits for all Canadians."</font></p>
<p><font face="Arial">"The prospects for even greater prosperity and higher standards of living for Canadians
are unparalleled," added Mr. Pettigrew. "Canada's sustained economic growth, together
with the Government's sound fiscal management, has generated the surplus that
Finance Minister Paul Martin recently indicated was $12.3 billion for 1999-2000. This
total will be paid against our public debt -- the largest debt paydown in Canadian
history."</font></p>
<p><font face="Arial">"In May, I released the <em>First Annual Report on Canada's State of Trade</em>, prepared by the
Department of Foreign Affairs and International Trade," said Mr. Pettigrew. "At the time,
I stated that the document was needed to respond to increased demand for
comprehensive information and analysis on Canada's trade and investment trends and
performance. Now, with the accelerating pace of global economic development, the
need has become even greater. That is why we are publishing quarterly updates on our
progress."</font></p>
<p><font face="Arial">The <em>Canadian Trade Review</em>, profiling Canada's exporting performance in detail, is
available on-line at: <a href="https://bac-lac.wayback.archive-it.org/web/20070221010747/http://www.dfait-maeci.gc.ca/eet/new-e.asp">http://www.dfait-maeci.gc.ca/eet/new-e.asp</a></font></p>
<p align="CENTER"><font face="Arial">- 30 -</font></p>
<p><font face="Arial">For further information, media representatives may contact:</font></p>
<p><font face="Arial">Sylvie Bussières</font></p>
<p><font face="Arial">Office of the Minister for International Trade</font></p>
<p><font face="Arial">(613) 992-7332</font></p>
<p><font face="Arial">Media Relations Office</font></p>
<p><font face="Arial">Department of Foreign Affairs and International Trade</font></p>
<p><font face="Arial">(613) 995-1874</font></p>
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