Exports from Canada's old poor regions soar while richer areas lag

2008-5-30

Weighed down by the high Canadian dollar and weakening US demand, traditionally richer Ontario and Quebec will see exports tumble 7 per cent and 4.5 per cent this year, while traditionally poorer prairie provinces enjoy an export upsurge, said a report issued by the federal Export Development Canada agency.

"Manitoba and Alberta exports will jump by 6 per cent this year, and Saskatchewan will see a whopping 13 per cent gain. The shift in global demand to certain key products and markets has created a boom in Prairie exports," said the report.

"Why the differences? It's largely about what's for sale. Central Canada has the automobile and auto parts industries, machinery and equipment, and a range of primary and consumer products.

"Demand for these products has faltered across the board, with key industries suffering double-digit declines. In contrast, soaring global demand for energy, agri-food products and fertiliser are a boon for the oil-and-gas and bread-basket provinces," the report said.

Source: Schednet
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