INTELL-ECHO - The Export Sector in Atlantic Canada Economic Information Observatory - Campus de Shippagan
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INTELL-ECHO Vol. 6, no. 02, February 2019 Economic Information Observatory for Atlantic Canada The Export Sector in Atlantic Canada
Economic Information Observatory Atlantic Canada, 4 provinces: Intell-Echo Prince Edward Island (PEI), New Brunswick (NB), Thematic Information Bulletin Nova Scotia (NS), Vol. 6, no. 2, February 2019 Newfoundland and Labrador (NL) The Export Sector in Atlantic Canada In this issue: In Atlantic Canada, 2017 saw 70 new exporters join the ranks of those already active in this sector in 2016. Within a period of a year (2016-2017), regional exports grew by 16%; in 2017, revenues from exporting totalled an estimated Canadian SMEs and $30 billion. At the national level, Canada directly exported approximately $120 billion in services in 2018, while Exporting 2 international subsidiaries of Canadian companies offering services generated $375 billion in revenues. Although the Top Exports by United States is the main destination for Canadian exports, Canada has nonetheless shown diversification on the Province 3 international stage in service export markets in comparison to goods export markets: 77% of Canadian Promoting Exporting in merchandise exports currently go to the United States, while only 56% of Canadian service exports are destined for Atlantic Canada 4 the United States. Service export markets are found in highly developed countries as well as emerging regions (China, Latin America, Europe). The range of available services varies widely and includes business development-related In Canada: financial services as well as transportation, logistics, marketing and other services. 20% of all jobs are directly dependent on international Exports from Atlantic Canada’s energy Canadian exports of The European Union is trade. Canada to China sector services account for the s ec ond -l arges t 50% of production in 1.6% of total global market for Canadian Canada is destined for growing steadily since 91.1% of volume, making Canada 2014 exports after the United export. production the world’s 18th-largest States. based on estimates, total exporter of business After the Comprehensive exported to the U.S. exports in 2017 were up Canadian merchandise and Progressive Agreement services. by more than 37% over Other destinations exports nearly doubled for Trans-Pacific Partnership 2016. of energy exports Services represented between 2002 and 2016. (CPATPP) takes effect and 12.7% of Canadian goods exports from based on the terms of some Atlantic Canada to China (Japan, South Korea, exports in 1990 and 17.0% of Canadian $41.9 billion 14 trade agreements, China and India) exports in 2017. Volume of merchandise in 2017 exports Canada will enjoy preferred increased their coal access to markets in $1.5 billion imports by 50% in Canada’s top merchandise exports 51 countries. 2017. Value Growth Share 43% of these exports 2017 2016-17 2017 ($ billions) (%) (%) Canadian exports in 2017 were seafood products. 87.5% of Canadian All products 546.3 5.6 100 (merchandise): exports of business Energy 109.8 33.1 20.1 services go to the Automobile parts 81.0 -4.9 14.8 $546.7 billion In 2017, 87.1% of following countries (in order, excluding the United Mechanical equipment Precious stones & metals 42.0 24.4 5.7 -3.0 7.7 4.5 (up 5.7%) merchandise exports from States): United Kingdom, Wood and articles 18.8 4.7 3.3 Exports from Canada also Canada went to the top 5 Bermuda, Switzerland, Electrical equipment 16.8 0.5 3.1 destination countries: the France, Germany, Ireland, Plastics and articles 16.3 1.7 3.0 grew in 2017 based on trade Japan, Belgium/ Aluminium and articles 12.7 19.0 2.3 with Japan, South Korea, United States, China, Luxembourg, Netherlands, Aircraft, spacecraft & parts 12.6 -7.6 2.3 Germany, the United Mexico, the United Australia, Mexico, Sweden, Oilseed crops 10.2 7.2 1.9 Kingdom and Japan. China, Hong Kong and Top 10 products 344.1 8.7 63.0 Kingdom and China. Barbados. All other products 202.2 0.8 37.0 Additional information: Global Affairs Canada (GAC), ; Atlantic Canada Opportunities Agency (ACOA), ; Business Development Bank of Canada (BDC), ; Standards Council of Canada (SCC), ; Canadian Commercial Corporation (CCC), ; Canada Business, ; Farm Credit Canada (FCC), ; Innovation, Science and Economic Development Canada, ; Innovation PEI's Global Trade Services division, ; Opportunities New Brunswick, ; Nova Scotia Business Inc., ; Department of Tourism, Culture, Industry and Innovation (NL); ; Grow Export, ; LearnSphere, ; Statistics Canada, .
Intell-Echo, 6, 02, 2019 – p. 2 https://provis.umcs.ca ATLANTIC CANADA Canadian SMEs and Exporting The 2017 Survey on Financing and Growth of Small and Medium Enterprises provides data on the exporting activities of SMEs. In 2017, of the 12% of SMEs that exported, 41% exported goods, 47% exported services and 12% exported goods and services. Of the 88% of SMEs that did not export, 94% reported that this was due to the local nature of their goods or services. Total exports of all products from the Atlantic Provinces by destination, 2017 (Values in $ millions; shares in %) All countries United States European Union Other Value Share Value Share Value Share Value Share PEI 1,383 100 1,018 73.6 123 8.8 242 17.6 NB 12,874 100 11,639 90.4 238 1.8 997 7.8 NS 5,459 100 3,515 64.4 471 8.6 1,473 27.0 NL 10,189 100 5,388 52.8 2,482 24.4 2,319 22.8 Atlantic Canada 29,905 100 21,559 72.1 3,314 11.1 5,032 16.8 Canada 546,456 100 414,502 75.9 41,584 7.6 90,370 16.5 Provincial export forecasts in Atlantic Canada in 2019 SME export destinations United States 87% According to Export Development Canada’s (Canada’s export credit agency) Global Export European Union 26% Forecast, published in fall 2018, provinces in the Atlantic Region should post good performance in (except United Kingdom) 2019 in the export sector. Prince Edward Island can anticipate strong sales of frozen food and United Kingdom 17% expects to enter new European markets for the export of agri-food and aquaculture products; New Asia 12% Brunswick is positioned to benefit from higher commodity prices and good conditions in the (except China, India and Japan) fisheries and pulp & paper sectors; in Nova Scotia, the opening of the Touquoy Gold Mine and Mexico 9% implementation of the Comprehensive Economic and Trade Agreement with the European Union China 8% should stimulate provincial exports; and Newfoundland and Labrador expects to expand oil Latin America 6% (except Mexico and Brazil) production via the Hebron offshore platform and see an increase in activity at the Vale nickel Japan 6% processing plant. India 5% State of exporting of goods and services from the Atlantic Provinces to other countries and Export-dependent employment, provinces, 2017 estimates, in $ billions by province Canada’s Atlantic Provinces PEI NB NS NL In 2017, 1,451,000 workers were employed in Canadian industries that depend on 2017 estimates exports, which corresponds to 8% of all jobs EXPORTS OF GOODS AND SERVICES 3.347 26.569 15.822 16.557 in Canada. Exports to other countries 1.602 14.039 7.325 11.174 Province Percentage Exports of goods to other countries 1.099 12.739 5.451 10.299 British Columbia 6% Exports of services to other countries 0.503 1.300 1.874 0.875 Alberta 8% Exports to other provinces 1.745 12.530 8.497 5.383 Saskatchewan 10% Exports of goods to other provinces 0.930 7.050 3.919 3.515 Manitoba 9% Exports of services to other provinces 0.815 5.480 4.578 1.868 Ontario 8% Quebec 9% New Brunswick 6% Target markets by number of company employees, in 2017 Prince Edward Island 6% Within Outside of Within rest Outside of municipality municipality or of Canada Canada Nova Scotia 5% or local local region but (export sales) 5% region within province or territory In Atlantic Canada, the proportion of export- All SMEs 92.5% 45.4% 19.8% 11.7% dependent jobs in 2017 was 4% in the Cape Number of 1-4 91.1% 40.8% 17.0% 9.9% Breton economic region and 3% in the Halifax company 5-19 95.1% 50.3% 20.8% 12.0% economic region in Nova Scotia. In New employees 20-99 93.1% 51.9% 28.1% 17.0% Brunswick, it was 3% in the Fredericton- 100-499 86.9% 58.2% 39.5% 29.1% Oromocto economic region.
Intell-Echo, 6, 02, 2019 – p. 3 https://provis.umcs.ca ATLANTIC CANADA Top Exports by Province Top 5 global exports of Prince Edward Island, 2017 Recent and upcoming In 2017, the top 5 merchandise exports from Prince Edward Island to all countries combined accounted for 50.2% of the province’s global exports. events and trade missions Product (CAD $ 000s) Potatoes - prepared/preserved without vinegar/acetic acid 313,366 Atlantic Growth Strategy: Turbo-propellers - power 6mm) - coniferous wood 508,521 Atlantic Canada and featuring trade fairs, Lobsters - frozen 413,332 business-to-business meetings and Petroleum bitumen 395,856 networking receptions bringing together Subtotal 8,046,459 more than 70 companies and Other 4,827,609 organizations in Atlantic Canada. Total (all products) 12,874,068 Trade mission to Top 5 global exports of Nova Scotia, 2017 Mexico City and Monterrey In 2017, the top 5 merchandise exports from Nova Scotia to all countries combined January 27 - February 1, 2019 accounted for 41.7% of the province’s global exports. Industry: Multi-sector Product (CAD $ 000s) Market: Global Lobsters, live, fresh or chilled 711,249 Mission organized for New Brunswick New rubber tires - for buses or trucks (lorries) 642,559 companies New rubber tires - for motor cars (incl. station wagons and racing cars) 381,611 Crabs - frozen 310,754 Think Export Workshop: Chemical woodpulp - soda or sulphate - 227,693 The Wine Edition coniferous, bleached February 19, 2019 / Wolfville, NS Subtotal 2,273,866 Everything producers need to know to set Other 3,185,179 themselves up for success with their exporting activities. Total (all products) 5,459,045 National Conference and Top 5 global exports of Newfoundland and Labrador, 2017 Business Fair In 2017, the top 5 exports from Newfoundland and Labrador to all countries combined June 25 - 27, 2019 accounted for 82.6% of the province’s global exports. Baltimore, Maryland, United States Product (CAD $ 000s) Largest event of its kind for women Crude petroleum oils and oils obtained from bituminous materials 3,859,407 business owners in the U.S., with more Iron ores and concentrates, other than roasted iron pyrites, agglomerated 1,431,047 than 350 exhibitors and procurement Petroleum oils and oils from bituminous materials - not crude - not light 1,205,771 representatives from multiple countries. Light oils and preparations 1,167,537 Lectures, presentations from thought Iron ores and concentrates, other than roasted iron pyrites, non-agglomerated 750,314 leaders, panel discussions, matchmaker Subtotal 8,414,076 sessions, networking receptions and a Other 1,774,834 business fair. Total (all products) 10,188,910
Intell-Echo, 6, 02, 2019 – p. 4 https://provis.umcs.ca ATLANTIC CANADA Promoting Exporting in Atlantic Canada 2018 Export Awards https://onbcanada.ca/press-releases/seven-companies-honoured-2018-export-awards/ Events and trade missions (cont.) In June 2018, seven New Brunswick companies received awards in recognition of their contribution to the province’s prosperity. Trade Mission: Diversity This was the 52nd year in which New Brunswick celebrated its export-oriented companies. Procurement Fair and Breakfast with Category Winner Brands in Toronto Foreign-Owned Exporter Bulletproof April 16 - 18, 2019 Emerging Exporter of the Year Bouctouche Bay Industries www.cvent.com/events/diversity-procurement-fair- Global Diversification Award Remsoft Inc. 2019 Innovative Exporter of the Year Thermtest Inc. Multi-Sector Trade Mission to Bogota, Exporter of the Year – Under $5 million Masitek Instruments Inc. Colombia February 25 - March 1, 2019 Exporter of the Year – Over $5 million InteliSys Aviation Systems Organized by the Maritimes Energy Opportunities NB Impact Award ExxonMobil Business Support Centre Association in partnership with ACOA Canada ULC www.maritimesenergy.com/events.asp Nova Scotia Export Achievement Awards 2018 Trade Mission to Oceanology https://www.novascotiabusiness.com/export/nova-scotia-export-achievement-awards International Americas 2019 Celebrated this past June in Halifax, the Nova Scotia Export Achievement Awards were presented by February 25 - 27, 2019 Nova Scotia Business Inc. www.oceanologyinternationalamericas.com/ Category Winner Conference/ Exporter of the Year – Over $5 million in Export Tony’s Meats (Antigonish) Sales Trade Mission: Canadian Exporter of the Year – Under $5 million in Export Spring Loaded Technology Construction and Building Products Sales Showcase in Barbados Business of Diversity Champion of the Year Eleanor Beaton and Company Communications March 10 - 13, 2019 (Windsor) www.novascotiabusiness.com/events Canadian Market Champion of the Year Tony’s Meats (Antigonish) Business Development Mission to Norway International Market Champion of the Year BlueLight Analytics (Halifax) March 11 - 15, 2019 Innovation in Business Champion of the Year InterTalk Critical Information Systems http://neia.org/business-development-mission-to- (Dartmouth) norway-march-2019/ New Exporter Champion of the Year Dormie Workshop (Halifax) Atlantic Canada Mission to MRO Guidelines for Canadian Trade Commissioner Service Americas international trade https://www.tradecommissioner.gc.ca/ April 9 - 11, 2019 https://mroamericas.aviationweek.com ►In addition to the Export Development Act, Operated by trade professionals, the Canadian Trade the export trade is governed by a strict Ocean Business regulatory framework. Commissioner Service (TCS) provides expertise and April 9 - 11, 2019 assistance to companies and organizations seeking to www.oceanbusiness.com/ Legislation; Agreements and rules; Processes and procedures; Tax rules; Specific cases position themselves in international markets. The TCS is active in more than 160 cities worldwide, and trade Offshore Technology Conference Specific cases: commissioners are equipped to provide key insights May 6 - 9, 2019 ►Exporting agri-food products – http://2019.otcnet.org Canadian guidelines; records, certifications and based on their field knowledge and extensive contact declarations; processing and grading; lists built over many years. Atlantic Canada Mission to the UK labelling and packaging; shipping and storage; food including the All - Energy 2019 inspection; traceability CanadExport is the Canadian Trade Commissioner Conference ►Exporting services – foreign credentials Service’s official magazine. May 15 - 16, 2019 recognition; posting of employees abroad; https://www.tradecommissioner.gc.ca/canadexport/ www.all-energy.co.uk/Conference registration and application for permits and licences; index.aspx?lang=eng sector-specific restrictions; intellectual protection 4th Annual Workshop on Supply Chain & ►Foreign protectionist measures – dumping; Lighting the path to export financing Logistics Management subsidies; anti -competitive practices; September 27, 2019 Providing a picture of the regulatory context and available local content requirements; case study: U.S. local www.dal.ca/faculty/management/rsb/news- assistance, the Spotlight series of the Canadian Trade content requirements events/events/2019 Integrity risks – corruption; money laundering; Commissioner Service (TCS) explores the various Canadian trade programs in addition to listing the financial Dalhousie University (NS). Discussion of financing of terrorist activities ►Trade dispute settlement – products and services available to Canadian companies supply chains, disruption, innovation and advantages of arbitration; arbitration organizations seeking to take advantage of international markets.
INTELL-ECHO Starting January 2019, the ECONOMIC INFORMATION OBSERVATORY will provide information related only to the Atlantic Canada area. Intell-Écho is a periodic bulletin Launched in 2014, the Economic published by the Economic Information Observatory was a Information Observatory, a regional cooperation project regional cooperation project established between Atlantic between Atlantic Canada and Canada and Saint -Pierre and Saint-Pierre and Miquelon. The publication of this bulletin is Miquelon. The publication of this made possible through the information bulletin was made sponsorship of the Atlantic possible through the sponsorship of Canada Opportunities Agency in the Préfecture and the Conseil support of research initiatives, Territorial of Saint-Pierre et linguistic minorities and business Miquelon, and the support of the development, and the Province Atlantic Canada Opportunities of New Brunswick as well as the Université de Moncton, Agency’s programs for research Shippagan Campus. initiatives, linguistic minorities and business development, and the Editorial Production: Project Lead, Province of New Brunswick, as well Dr. Monica Mallowan, PROVIS Observatory, Université de as the University de Moncton, Moncton, Shippagan Campus, Shippagan Campus. Shippagan, NB, Canada. observatoirePROVIS@umoncton.ca © PROVIS Observatory 2019. Information Policy: The aim of this project is to provide useful information to stakeholders from the Atlantic Canada area. Information supplied herein may be used on the condition that the Intell-Écho be cited as a source. PROVIS—UNIV. DE MONCTON, CAMPUS DE SHIPPAGAN Responsibility: The project team is not responsible for the information 218, J.-D.-Gauthier resources supplied in this bulletin (content, links, changes, updates, Shippagan NB E8S 1P6 timeliness of statistical data) nor for Canada decisions or actions undertaken https://provis.umcs.ca based on information supplied herein. Tous droits réservés © Copyright PROVIS 201͡
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