Quebec exports to grow in 2007 before receding in 2008, says EDC
Nov. 23, 2007, Ottawa, Ont. - A healthy aerospace sector will drive an increase in 2007 of eight per cent in the greater transportation sector
Nov. 23, 2007,Ottawa, Ont.- Quebec export growth is forecast to grow
by estimated 2.7 per cent this year before receding by 1.4 per cent in 2008 as
a result of a weakening global economy, according to a provincial export
outlook by Export Development Canada (EDC).
A healthy aerospace sector will drive an increase in 2007 of 8 per cent
in the greater transportation sector, which accounts for 12.3 per cent of
Quebec exports. A revival in prospects for Bombardier's regional jets, as well
as continued strong demand for corporate airplanes, helicopters, engines,
aircraft parts and avionic products will offset declines in the railway
equipment segment. In 2008, the trend is expected to continue, with the
aerospace sub sector driving overall transportation exports up by a further
4.8 per cent.
Nationally, Canadian economic growth is forecast to remain stable at
2.3 per cent in 2007, and 2.6 per cent in 2008. Key price gains in commodities
have put Canadian exports on track to increase by 3.7 per cent in 2007, but
the impact of weaker U.S. and global demand will have the export growth rate
more than halved to 1.5 per cent in 2008. Internationally, EDC is forecasting
a 4.9 per cent growth rate in 2007, and 4.5 per cent in 2008. EDC's Global
Export Forecast is available at http://www.edc.ca/gef.