British Columbia exports top $31 billion in 2012
By Contributor
Statistics Canada released year-end export figures for 2012 today. British Columbia exported $31.7 billion worth of goods last year, recording sizable increases to China and India, two key markets as the province looks to diversify and expand markets for its products.
Exports to China, British Columbia’s second-largest trading partner after the United States, increased to $6 billion, up by 16.4 per cent compared to 2011. Exports to India increased by 59.8 per cent versus 2011, to $321 million.
A sharp rise in housing starts and construction in the United States late last year also resulted in a 1.8 per cent increase in B.C. exports across the border, with wood products up 25.4 per cent to bring the 2012 total to $14.2 billion.
These increased exports to the U.S. and China largely offset weakened demand from Japan, Korea and the European Union. Shipments to Korea were down 30.7 per cent, Japan decreased 10.6 per cent and the EU fell by 22.9 per cent, keeping overall exports of B.C. goods flat, down by 3.2 per cent, compared to 2011.
