27 Sep 2012

Canadian businesses reliant on U.S. trade

The 2013 edition of the Business Outlook from BMO Bank of Montreal showed that Canadian businesses are becoming more reliant on trade with the United States. The report showed that 39 percent of Canadian business owners said they were reliant on the U.S. for trade, up 18 percent on a year-over-year comparison.

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"Canadian businesses are showing a growing level of confidence in the prospects for the North American economy, and they continue to look for opportunities to grow beyond our borders," said Cathy Pin, vice president, Commercial Banking, BMO Bank of Montreal. "What is most interesting is that while Canadian businesses may have looked to diversify their supply chains and sales markets beyond the U.S. during the economic downturn, we are now seeing them once again look south for growth opportunities."

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