This industry report, produced by CanadianManufacturing.com in partnership with Grant Thornton LLP, bexplores Canadian export strategies for trade in uncertain times. The report highlights data from a national survey of more than 350 Canadian industrial executives and key outcomes from a follow-on roundtable of industry experts.
Highlights from the report include:
- 92 per cent began exporting to the U.S. before entering other markets
- Less than half surveyed (42%) have a comprehensive exporting strategy
- The Trump factor. Only 13 per cent have a plan to adjust their current export strategy but only 8 per cent expect their export to grow under the new administration. An overwhelming 87 per cent recognize the importance of looking beyond the U.S. for future exports
- Currency fluctuations are regarded as the largest single challenge, with 29 per cent of respondents citing it as a concern. Transportation and logistics issues were a close second at 27 per cent
- Less than 10 per cent report major exporting failures over the past 24 months, but 35 per cent cited a lack of supply chain visibility as the major reason for failure
- 60 per cent of respondents report technology such as ERP for supply chain visibility important to their exporting success