Prince Edward Island’s exports continue to see success in markets around the world which is an encouraging sign for the province’s economy, says Minister of Economic Development and Tourism Heath MacDonald.
“After a record-breaking month for international exports in June, it is great to see our province continue to show strength despite our country having been in a technical recession,” said Minister MacDonald. “I’m pleased to see the strong performance of our province’s manufacturers and exporters. We will build on this success by continuing to work with the private sector to place an emphasis on the development of our export markets and reduce our trade gap.”
In June, Prince Edward Island set a new monthly record for provincial export sales with $128 million. Last year marked the first time that Prince Edward Island’s exports surpassed $1 billion. The province is currently on track to exceed the 2014 record-breaking year.
Prince Edward Island’s international exports for July 2015 were $101.6 million, an increase of $34.9 million over July 2014. For the first seven months of 2015, the value of Prince Edward Island’s exports is up 16.6 per cent.
Farm products and seafood constitute the largest category of the province’s exports followed by advanced manufacturing in the areas of aerospace and electronics. Exports of bioscience products including chemicals and pharmaceuticals are also significant.
Prince Edward Island continues to lead the provinces year-to-date in growth of export sales and was the only Atlantic province to record an increase in export sales. Nationally, Canada’s export sales were down by 2.5 per cent in the same period.
Recently, government announced the creation of Sales Force PEI, the most ambitious business prospecting program in the province’s history. It will bring together business leaders, government agencies and industry organizations to form policies and strategies aimed at growing the provincial economy, expanding exports and providing new jobs for Islanders.
“One of our government’s primary goals is to grow our economy and increase trade and exports to generate wealth and revenues for our province,” said Minister MacDonald. “Through Sales Force PEI we will create an environment for expansion, innovation and increased profits that will benefit our province as a whole.”