Ontario's international export growth is forecast to lead the country with a 9% gain this year and a further 9% gain in 2013, according to Export Development Canada's (EDC) Global Export Forecast.
The three key exporting sectors for Ontario are industrial goods (chemicals, plastics, fertilizers, ores, metals, etc.), accounting for 36% of the province's total exports; motor vehicles and parts, accounting for 32%; and machinery/equipment, accounting for 13%.
"Resurgent U.S. growth will be a huge driver of Ontario export growth this year and next. Double-digit gains in the auto sector, industrial goods and forestry products are all traceable to economic revival south of the border," said Peter Hall, EDC's Chief Economist. "Growth is being further augmented by fast-growing sales into emerging markets, a steadily rising share of Ontario's international sales."
Quebec's international export are forecast to grow by 7% this year and in 2013, the province's first four-year growth pattern since 2000, according to EDC's forecast.
"There is finally some real momentum in Quebec's international exports after years of flat growth and declines prior to 2011," said Mr. Hall.
"Quebec's export growth picture over the next two years will be driven by a variety of factors, including strong prices and demand for commodities, higher aircraft deliveries, and the slowly-developing rebound in the U.S. housing market."
The three key exporting sectors for Quebec are industrial goods (chemicals, plastics, fertilizers, ores, metals, etc.), accounting for 39% of the province's total exports; machinery/equipment, accounting for 13% , and transportation, accounting for 12%.
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