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BC expected to top Canadian exports

Published by Steve Coleman on November 15, 2011

British Columbia is expected to become Canada's export capital in 2012.

Export Development Canada is predicting BC's exports will increase 13 per cent next year, the highest rate among any Canadian province.

"Continued strong demand from China and rapidly-growing Asian economies will benefit British Columbia's export sector, which will expand at double-digit pace again in 2012," said Peter Hall, Chief Economist for EDC, in a news release. "Exports to Asia now represent over 40 per cent of the province's exports, and are expanding in excess of 25 per cent this year."

Higher coal, copper and wood products shipments are all expected to rise over the next year. Currently, forestry and energy each account for one-fifth of the province's exports. Industrial goods account for 16 per cent.

British Columbia's forestry exports are forecast to grow 26 per cent in 2012 with a predicted resurgence in US housing demand.

BC energy exports are forecast to settle at 10 per cent growth in 2012 after an expected 32 per cent increase in 2011. Higher coal prices and more natural gas from the Montney shale gas field were expected to fire up this year's numbers.

As Japan recovers from this year's earthquake and tsunami, exports to Canada's biggest coal customer are also expected to rise.

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