By: IMA Staff
The falling Loonie could be good news for BC Exporters. Business in Vancouver reports that manufacturers and exporters in the province might find the decreasing value of the Canadian dollar to be welcome news.
According to Business in Vancouver:
The Canadian dollar has been sliding since mid-October, which could benefit British Columbia’s manufacturing and export industries in the immediate term, according to the Canadian Manufacturers & Exporters (CME).
On Wednesday (December 4, 2013), the dollar dipped below US$ 0.934, marking its lowest level since May 25, 2010.
“Given that we are an exporting province, that could be a good thing,” said Marcus Ewert-Johns, vice-president at CME’s B.C. division. “Usually a lower Canadian dollar is good for exporters, as the foreign buyer has greater purchasing power.
Read the full article on Business in Vancouver here.
TradeTips blog is published by UCanTrade, Inc., your cross-border experts since 1984.
Subscribe to our TradeTips Newsletter for the latest import/export events and trade news, and/or call us at (360) 380-6900.