May 16, 2012
Alberta's yearly exports will exceed 100 billion dollars by 2013
According to the latest Global Export Forecast from Export Development Canada (EDC) Alberta's international exports are forecast to grow by 7 per cent this year and 6 per cent in 2013, surpassing CAD 100 billion next year.
Alberta exports are dominated by the energy sector, which accounts for three quarters of total annual sales. Energy exports are forecast to rise 8 per cent in 2012 and 5 per cent in 2013, despite a weaker price environment.
"Peak prices for oil and key commodities have been boosting the value of Alberta's exports for a number of years, but additional gains will be somewhat constrained by softening prices. Increased volumes, however, will keep the province on the growth track," said Peter Hall, Chief Economist of EDC.
Exports of industrial goods (chemicals, plastics, fertilizers, ores and metals), accounting for 11 per cent of the province's total exports, are expected to grow by 4 per cent this year and 5 per cent in 2013.
Agri-food exports, accounting for 8.5 per cent of the province's total, are forecast to grow by 10 per cent in 2012 and 5 per cent in 2013. "Agri-food shipments will build on the 18 per cent jump in 2011 with continued solid gains, thanks to higher sales of wheat, oilseeds and Alberta beef," Hall said.
EDC's forecast calls for Alberta's machinery/equipment exports to grow by 7 and 10 per cent in 2012 and 2013, respectively. Global demand for oil and gas drilling equipment will remain strong through 2013.