U.S. Housing Boom To Power B.C. Exports To 10 Per Cent Gain In 2013: EDC Forecast
The energy sector generates 31 per cent of the province's total exports. EDC expects energy exports to grow by 5 per cent next year after declining by 7 per cent this year. "The long-term potential for the province's energy sector remains bright, and the current level of investment should keep production increasing well into the future," said Hall.
The industrial goods sector is also important to B.C.'s export picture, making up 20 per cent of the province's total exports. The sector will see growth of 6 per cent growth next year after a disappointing 9 per cent decline this year. "With copper, gold and molybdenum capacity being added to mining output, exports of industrial goods are expected to increase next year," said Hall. "Longer-term projects will also boost the metals sector beyond 2014."
EDC's semi-annual Global Export Forecast addresses the latest global export conditions including perspectives on interest rates, exchange rates as well as export strategies to help Canadian companies minimize risk. It also analyzes a range of risks for which exporters should be prepared. The forecast is available on EDC's website at: http://www.edc.ca/gef.
EDC is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by more than 7,700 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and a recognized leader in financial reporting and economic analysis.SOURCE Export Development Canada
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