EDC helps move the needle on Canadian trade in 2018
In 2018, Export Development Canada (EDC) took on a bigger role in the Canadian trade ecosystem, helping more Canadian companies while working to maintain its place as an industry leader in the areas of risk management, corporate sustainability and responsibility, and fostering a passionate workforce.
Trade is a key driver of Canada’s economic growth, accounting for more than 60 percent of the national GDP, and EDC exists to help grow and develop the country’s export trade. In 2018, the organization’s work on that front facilitated C$105 billion in exports, foreign investments and trade development activities, and supported the equivalent of 489,000 Canadian jobs.
“Our focus at EDC is simple: We are here to help every Canadian company go, grow and succeed internationally. Doing that is not always easy, but we’re here to help businesses navigate the challenges. Our results from 2018 clearly show our efforts are paying off for Canada,” said Mairead Lavery, EDC’s President and CEO.
“There are many different ways we can support exporters, but perhaps the most important way is to meet companies where they are in their exporting journey—whether they’re thinking about it, just starting out or have been doing it for many years.”
EDC has put a sharp focus on just that, deliberately moving to meet the varied needs of exporters at specific points of the journey. Dovetailing a broader range of services reflective of those needs with EDC’s core offerings—financing, equity, insurance and bonding—helped boost the number of customers served, many of which were micro- and small-sized businesses. Year-over-year, 2018 saw a 40 percent increase in the number of customers served, from 9,400 in 2017 to more than 13,000 in 2018.