WASHINGTON, D.C. — Canada has taken a back seat to China, which for the first time has cemented itself as the largest exporter into the US in 2007.
While China’s exports into the US have eclipsed Canada’s in some previous months, 2007 marks the first full year where China’s exports have been greater than Canada’s, according to statistics published by the US Bureau of Economic Analysis.
Canada’s exports into the US climbed 3.5% to US$313.1 billion in 2007. However, China’s exports to the States increased 11.7% to US$321.5 billion. The Canadian loonie rose 19% against the greenback in 2007, which helped stagnate Canada’s export growth, according to the report.
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