Newspaper article The Canadian Press

Exports to Grow 2% in 2016 Thanks to Auto, Aerospace and Consumer Sectors: EDC

Newspaper article The Canadian Press

Exports to Grow 2% in 2016 Thanks to Auto, Aerospace and Consumer Sectors: EDC

Article excerpt

Exports to grow 2% in 2016: EDC forecast

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OTTAWA - A new forecast from Export Development Canada says the value of exports will grow two per cent this year after shrinking 1.5 per cent in 2015.

EDC chief economist Peter Hall says the optimistic outlook is based on expectations of double-digit expansion in exports by the automotive, consumer goods and aerospace industries.

On the flip side, Hall also projects a double-digit contraction for energy exports in 2016 as the commodity sector continues to struggle in a low price environment.

Hall says higher U.S. demand and the weaker Canadian dollar have helped boost sales in several important industries. His report says early 2016 numbers suggest sectors like agri-food, forestry, advanced technology and industrial machinery are set to expand this year. …

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