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This report provides a comprehensive summary of the main developments in Canada’s commercial activities during the previous year. It describes the events that took place in the global economy and trade in 2018, the main developments in Canada’s economy and those of its most important partner economies and regions. It reports the developments in Canada’s trade in goods and services, as well as flows and stocks of foreign direct investment and Canadian direct investment abroad.

A special chapter is dedicated to Canada’s trade diversification effort, its importance, evolution and prospects, as well as the different dimensions of trade diversification. In addition, the chapter describes various potential paths for further diversification, by summarizing the numerous research and analyses undertaken by the Office of the Chief Economist at Global Affairs Canada and elsewhere.