Their contribution to Canadian GDP in the first quarter should be greater than what we had forecast in the April MPR. This is encouraging. That said, we know that our exporters are facing increased foreign competition. As we noted in April, the market share of Canadian non-energy goods in the United States has shrunk by almost half since the early 2000s.
I hope you will take the time to read this book written by present-day central bankers and edited by Dr. Valdepenas, who served as Member of the Monetary Board for a total of 14 years. Fellow central bankers, as we make a fresh start in 2010, let us always be mindful of the weight of both responsibility and history upon us.