Notes

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^1.

Chief Economic Analyst (613-951-9162)

^2.

P. Cross, "Canada's international trade during the recession". Canadian Economic Observer, October 2009.

^3.

The Bank of Canada commodity price index fell 46% between the third quarter of 2008 and the second quarter of 2009.

^4.

J. Ahn, M. Amity and D. Weinstein, "Trade Finance and the Great Trade Collapse". American Economic Review: Papers & Proceedings, 2011, 101:3, 298-302.

^5.

G. Alessandria, J.P. Kaboski and V. Midrigan, "US Trade and Inventory Dynamics". American Economic Review: Papers & Proceedings, 2011, 101:3, 303-307.

^6.

International trade classifies vehicles by whether their primary purpose is for the transport of persons or cargo, so most crossovers and minivans are allocated to passenger cars and not trucks.

^7.

Current dollar exports on a balance of payments basis. From U.S. International Transactions Accounts Data, Table 2a.

^8.

These share data were calculated for all of 2010, since they are not available seasonally adjusted and to minimize the impact of irregular short-term movements.

^9.

The data in this section come from Gilberto Gambini, "Almost complete recovery for EU-27 trade in 2010". In Eurostat, Statistics in focus, 39/2011. The almost complete reference refers to the fact that while EU exports have recovered all their losses, imports have not.