Foreign direct investment into Canada declined 35% during this year’s third quarter.
The latest data from Statistics Canada shows that foreign direct investment totaled
$27.1 billion between July and September of this year.
That’s down 35% from $41.6 billion recorded in the year’s second quarter.
Statistics Canada says that foreign direct investment in Canada continues to be driven by mergers and acquisitions, as well as investments in the manufacturing sector.
There have also been some foreign investments in Canada’s energy and mining sectors this year, although that money has slowed in recent months.
Some economists say foreign investments into Canada might slow further if U.S. president-elect Donald Trump follows through on his threat to impose 25% tariffs on all imports from Canada.
America remains the largest source of foreign investment into Canada, says Statistics Canada.
The Canadian dollar is currently trading at $0.71 U.S., its lowest level in four years.
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