Surge in exports an encouraging sign

Posted by Rumin Mann
March 16th, 2011

B.C.’s exports surged 21 per cent in January with the province’s forestry products helping to power a $410-million gain over the same month last year.

The province’s exports topped more than $2.4 billion in January, with forestry products accounting for $691 million of that, up 21 per cent from last January.

Economists say it reflects a steady increase in overall export volumes for many sectors, and serves as an encouraging sign for the lumber industry, which is still emerging from the worst market conditions it has faced in more than seven decades.

“If we look at the overall trend cycles, what we see is that through 2009 and early 2010, overall exports were actually very low, so we are comparing it to a low level,” said Bryan Yu, an economist with Central 1 Credit Union. “But we are undoubtedly improving, in terms of overall export volumes for a number of sectors.”

Overall exports to Asia were worth more than $977 million for the month, up 20 per cent from the same period last year. B.C.’s exports to China were up 79 per cent.

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