The following is excerpted from a 16 May 2013 commentary by Peter G. Hall of Export Development Canada.
International trade will be a key growth driver for the Canadian economy this year and next. However, the distribution of export growth in Canada's provinces is anything but even. Some are leading the charge, while others are steady at the national pace. Others are lagging behind, some quite seriously. What are the key factors influencing the different growth patterns?
On top of the heap are British Columbia and Nova Scotia. Surging forestry exports are a big reason that BC will see 12 per cent growth this year and a further 11 per cent in 2014. Wood shipments to the reviving US market will add to the robust increase in exports to China. BC will also get a solid boost from mineral exports, thanks to new mining production. Nova Scotia will see the same growth rates, except the years are flipped around. It's largely an energy story for Nova Scotia, with Venture and Deep Panuke causing output to double this year and double again in 2014. The return of NewPage supercalendered paper production will boost forestry exports by 15 per cent in 2013.
This commentary is available in its entirety at:
http://www.edc.ca/EN/Knowledge-Centre/Subscriptions/Weekly-Commentary/Pages/ranking-canadas-regions.aspx
Topic(s)
International Trade and Border Management
Information source
Canadian News Channel
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