January 16, 2001 (9:40 a.m.EST) No. 6

INTERNATIONAL TRADE STRENGTHENS CANADA'S

ECONOMIC PERFORMANCE

The Department of Foreign Affairs and International Trade released today the Canadian Trade Review which highlights recent international trade figures from Statistics Canada. The figures show that Canada's exports of goods and services rose to a record high of $118.5 billion in the third quarter of 2000.

"Canada's trade success continues to contribute to our country's prosperity," said International Trade Minister Pierre Pettigrew.

Canada's current account balance recorded a surplus of $3.4 billion in the third quarter of 2000, the third surplus in a row. The cumulative surplus over the first three quarters of last year amounted to $11.6 billion. This surplus is already more than twice the previous 12-month surplus of $4.6 billion recorded in 1999. Canada has benefited noticeably from higher exports of energy products, reflecting in part high natural gas and crude petroleum prices.

Real gross domestic product rose at an annualized rate of 4.8 percent in the third quarter of 2000, more than twice that in the United States. "Canada's trade-driven economy is the strongest among all G-7 countries," Mr. Pettigrew added.

The current issue of the Canadian Trade Review profiles Canada's quarterly export performance. It includes an analysis on the reconciliation of merchandise trade statistics which shows that Canada's exports and bilateral trade balances are often higher and thus even better than indicated by official statistics. The Canadian Trade Review is available on-line at: http://www.dfait-maeci.gc.ca/eet/new-e.asp

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For further information, media representatives may contact:

Sylvie Bussières

Office of the Minister for International Trade

(613) 992-7332

Media Relations Office

Department of Foreign Affairs and International Trade

(613) 995-1874