BC to lead Canada in export growth: agency

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VANCOUVER (NEWS1130) – Surging exports of lumber mean BC’s export growth will be tied for first with Nova Scotia, according to a federal agency.

This province’s exports will grow by 11 per cent this year and 12 per cent next year, says Export Development Canada.

EDC chief economist Peter Hall says “BC is enjoying an exceptional recovery in forestry and very strong gains in ores and metals” and is in “an international sales sweet spot.”

EDC expects forestry exports, due to US housing demand and rising prices, will soar 25 per cent this year and 17 per cent next year, after rising just two per cent last year. Hall predicts higher prices but lower volumes for exports of natural gas.

Hall says coal exports are “being hard hit by the sharp price declines that took hold late last year” and are expected to fall 12 per cemt this year.

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