Quebec headed for big export growth: Export Development Canada
The continued growth is being led by strong international demand for aircraft and parts, EDC says.
November 27, 2015 by Canadian Plastics
Quebec’s highly diversified economy is on track for a 10 per cent increase in exports this year and eight per cent growth in 2016, a new forecast by the Canadian government’s lending agency says.
According to Export Development Canada, the continued growth is being led by strong international demand for aircraft and parts, which accounts for nearly 14 per cent of the total value of Quebec exports.
EDC says those exports are expected to rise 33 per cent this year and another 17 per cent in 2016.
Metals, ores and other industrial products make up the largest sector of Quebec exports are expected to rise five per cent this year and by six per cent growth next year.
“Quebec has a very vibrant aircraft and parts sector – and not just the big companies such as Bombardier, CAE and Pratt & Whitney, but also the many smaller firms that supply them,” said EDC chief economist Peter Hall. “Demand from around the world, including from emerging markets, has been very strong in 2015, and this will continue in 2016. Most of the growth this year and next will come from the United States, where the economy is showing no signs of slowing down.”