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Ontario to lead Canadian export growth

Published by Steve Coleman on April 26, 2012

Finally, some good news for Ontario.

Export Development Canada is predicting nine per cent export growth for the province this year and another nine per cent for 2013 in a new forecast released April 26.

The group says industrial goods, motor vehicles and parts and machinery/equipment will lead the way for the province's manufacturing sector over the next couple of years.

"Resurgent US growth will be a huge driver of Ontario export growth this year and next," said Peter Hall, EDC's Chief Economist. "Double-digit gains in the auto sector, industrial goods and forestry products are all traceable to economic revival south of the border. Growth is being further augmented by fast-growing sales into emerging markets, a steadily rising share of Ontario's international sales."

Of the goods Ontario exports, 36 per cent fall into the industrial goods category and include items like chemicals, plastics, fertilizers, ores and metal. Motor parts a vehicles tally 32 per cent of Ontario exports, while machinery and equipment make up 13 per cent of the overall total.

Gold, nickel and copper mines are also expected to be busier over the next year and it's expected that prices will remain high for the commodities.

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