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2 Canada punches far above its weight when it comes to trade in financial services and the sector represents an important avenue for Canada to further increase its' exports. Over the past decade, Canadian exports of financial services grew by about ten percent per year, much more than other services sector exports. 1 In fact, financial services are among the top five fastest growing Canadian exports, and is generally one of the few sectors where Canada runs a trade surplus. Such surpluses can play an important role in counterbalancing the trade deficits that are appearing in other areas of Canadian trade. Canadian insurers operate in more than 20 countries, serve millions of people and hold $800 billion in assets internationally. These internationally competitive companies offer an extensive suite of products for both individuals and groups and their business is growing. Between 2005 and 2014, Canada's share of global exports of pension and related services increased from 0.18 to 0.29 percent while its share of other financial services grew from 0.79 percent to 1.35 percent. 2 1 Evans, Todd; Gouett, Matthew. Canadians at the Gate: International Expansion of The Canadian Banking Sector. Export Development Canada. September 10, 2013. Pg. 11. 2 Ciuriak, Dan; Kronick, Jeremy; Schwanen, Daniel. "Opening up New Trade Routes for Financial Services: Canada's Priorities" 0% 5% 10% 15% 20% Computer and Information Services Financial Services Other Business Services Royalties and Licence Fees Communications Services Insurance Services Travel Transport Personal, Cultural and Recreational Services Construction AVERAGE ANNUAL PERCENTAGE CHANGE Growth of Global Exports of Commercial Services Between 1995-2014