Attached to this press release is a summary of the observations in the Secretariat report and parts of the governments policy statements. Canada marked its eighth consecutive year of economic growth in 1999 with strong growth continuing through this year. This was the third straight surplus, a situation not seen since the early 1950s. Improvement at the provincial-territorial level accompanied fiscal progress at the federal level. International trade has played a significant role in sustaining Canada's economic growth.
Trade accounts for one in three new jobs in Canada.
The automotive sector is Canada's leading export sector, followed by machinery and equipment, including new technology products. With regard to trade in services, the strongest growth occurred in knowledge-based commercial services. Import growth was driven by investment demand for machinery and equipment and oil price increases. As a net energy exporter, however, Canada gained from the sharp rebound of international oil prices. Outward investment exceeds inward investment 7.