Canadian Chamber launches $4-trillion export opportunity tool

The Canadian Chamber of Commerce launched a free online tool on Oct. 5 that maps roughly $4 trillion in potential export opportunities for Canadian products across 182 international markets.

The Canadian Chamber of Commerce said in a news release that the Business Data Lab's Trade Explorer combines Canadian export strengths with global demand indicators to help businesses, trade practitioners and governments identify where demand exists and where Canadian products are most competitive. Europe was identified as the region offering the largest opportunity.

"Canada has worked hard to open doors for our businesses around the world, but access alone doesn't create trade. We need more Canadian companies walking through those doors," said Candace Laing, President and CEO of the Canadian Chamber of Commerce. "Businesses need to know where demand exists, where Canadian products can compete and which opportunities are worth pursuing."

Patrick Gill, Vice President of the Business Data Lab, said the tool is meant to make export options more accessible regardless of a business's experience level. "Canada doesn't just need more trade, we need more traders," Gill said. "Trade Explorer makes a big world of export opportunities a little more compact and tangible for Canadian businesses, whether they're considering exporting for the first time or looking to new markets for growth."

The Business Data Lab was launched in February 2022 by the Canadian Chamber of Commerce, with support from Statistics Canada and funding from Innovation, Science and Economic Development Canada. Its tools are available at no cost.

Trade Explorer is available at businessdatalab.ca/trade-explorer.