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Canadian Manufacturers & Exporters Economic Outlook for 2013


I recently attended the 2013 Economic Outlook presentation by Jayson Myers, President and CEO of the Canadian Manufacturers & Exporters, in Vancouver BC.

A copy of the presentation Economic Reset A Strategic Outlook for Canada’s Manufacturers and Exporters, can be found here.

Here are some additional highlights, which are not all reflected in the presentation:

  • Manufacturers should not focus on averages, there are just too many outlying risks and opportunities in the global economy that will impact their future prospects.
  • Food product manufacturing is one of the few sectors that continued to grow through the difficult economic times.
  • Investments in Mexican manufacturing has caused major growth of exports and manufacturing in Canada.
  • Canada has slipped down the list of global manufacturers, and now occupy Number 15 of the largest global manufacturing jurisdictions.
  • It is imperative that Canadian companies compete on high levels of value and product differentiation, which includes the product as well as all logistics around it.
  • The largest challenge for Canadian manufacturers, across all provinces, is an aging workforce and skill shortages.
  • Every $1 of output in Canadian manufacturing creates $3.50 in total economic activity.
  • Although Canada is able to create patents and intellectual property, the commercialisation rate of these patents is extremely low.