An energy rebound combined with a surge in ores and metals is fuelling Newfoundland and Labrador's substantive export recovery this year, according to Export Development Canada (EDC), Canada's trade financing agency.
Export Development Canada (EDC)
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Partial recovery of energy prices from the abyss of early 2016 is fuelling a rebound for the province's export sector after a double-digit stall last year according to Export Development Canada's (EDC) semi-annual Global Export Forecast.
Newfoundland and Labrador poised to lead country in export growth next year thanks to energy, metal ores
While Atlantic Canada's export story was driven by high demand and record prices in the region's seafood sector, a new global export forecast from Export Development Canada (EDC) predicts that the energy and metal ore industries will drive Atlantic Canada's export growth in 2017.
Export Development Canada (EDC) has announced it will make up to $750 million of financial capacity available to Canadian companies to help support the Canadian oil and gas sector (O&G) during this challenging time.
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Alberta and Saskatchewan will have lower exports this year due to depressed oil prices but will rebound in 2016 through a partial price recovery and volume gains, according to a new global export forecast released by Export Development Canada (EDC). Manitoba will also see declines in its energy exports in 2015, but gains in other important sectors will offset that and give it a modest increase in overall exports. All three provinces will enjoy export growth in 2016.