Fact Check: Canada's bilateral trade with the EU skyrocketed by 64% since CETA implementation.

Fact Check: "Canada's bilateral trade with the EU skyrocketed by 64% since CETA implementation."

What We Know

The Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union (EU) was provisionally applied starting in September 2017. According to a report by the European Commission, bilateral trade in goods and services between Canada and the EU has increased significantly since the implementation of CETA. Specifically, the report states that there has been a 71% increase in trade from €72.2 billion in 2016 to €123 billion in 2023 (EUROPA).

Furthermore, the report highlights that EU goods exports to Canada specifically increased by 64%, while EU services exports to Canada rose by 81% (EU News). This data suggests that while the claim of a 64% increase in trade is accurate for EU goods exports, the overall increase in bilateral trade is higher than the claim suggests.

Analysis

The claim that "Canada's bilateral trade with the EU skyrocketed by 64% since CETA implementation" is partially accurate but requires clarification. The 64% increase pertains specifically to EU goods exports to Canada, not the total bilateral trade figure. The overall increase in bilateral trade, which includes both goods and services, is reported to be 71% (EUROPA, EU News).

The sources cited are credible, with the European Commission being a primary source for trade data and analysis. The data is derived from official statistics, making it reliable. However, it is important to note that the interpretation of the figures can vary depending on whether one is discussing total trade or specific categories of exports.

Moreover, the CETA evaluation report also indicates that trade levels were assessed against a baseline year (2016), which is essential for understanding the context of these increases (EUROPA).

Conclusion

Needs Research. While the claim about a 64% increase in Canada's bilateral trade with the EU is accurate in the context of EU goods exports, it does not encompass the total trade increase, which is higher at 71%. Therefore, the statement lacks nuance and could mislead if interpreted without context. Further research into the specifics of trade categories and overall figures is necessary for a complete understanding.

Sources

1. Canada - The World Factbook
2. Canada - Wikipedia
3. Canada Country Profile - National Geographic Kids
4. Provinces and territories of Canada - Simple English Wikipedia
5. PDF CETA evaluation shows strong economic and social benefits - EUROPA
6. With CETA, the EU and Canada have increased bilateral trade by more than 70 percent
7. Canada-European Union Comprehensive Economic and Trade Agreement
8. Canada Maps & Facts - World Atlas