B.C. will be the only province in Canada to post double-digit growth in international exports in 2010 and 2011, Export Development Canada says.
B.C.’s merchandise exports will grow 13 per cent in 2010 and 10 per cent next year as the province posts “staggering” gains in shipments to Asian emerging markets, EDC chief economist Peter Hall said in an interview in Vancouver Wednesday.
Diversification is key to the province’s export success, Hall said.
In the first half of this year, B.C.’s exports to China rose 32 per cent. Exports to Southeast Asia climbed 36 per cent and those to South Asia — mainly India — by 69 per cent.
“These numbers are staggering,” Hall said.
“At this moment in time, where we have a very pressed world situation, B.C. is gaining market share in key markets. This is an example to the rest of the nation on how to do it.”
B.C.’s forest sector, hit hard by U.S. housing weakness, is enjoying considerable success in China, Hall said.