In 2022, 1.5% of UK exports went to Canada. The main categories of goods exported included pharmaceuticals, inorganic chemicals, mechanical appliances, and aviation components. The British pound (£) depreciated against the Canadian dollar (CAD) over the course of 2022.
With reference to the data above and your knowledge of economics, assess the likely impact on the demand for UK exports to Canada after the depreciation of the British pound.
