Continued growth in traditional sectors along with impressive numbers from emerging sectors are contributing to another record year for export growth on Prince Edward Island, says Minister of Economic Development and Tourism Heath MacDonald.
“Island companies are doing a tremendous job maintaining strength in traditional markets, and capitalizing on new and emerging markets as we track toward another record year for export growth in the province,” said Minister MacDonald. “We continue to see strength from the Island’s traditionally strong exporters like the agriculture and fishery sectors. But we’re also seeing growth in new and emerging manufacturing sectors that aren’t traditionally associated with exports from our province. It’s a strong sign that our economy is diversifying and Island entrepreneurs are taking advantage of new and emerging markets.”
So far this year Prince Edward Island is leading all provinces and territories in export growth. Through October exports are up 15.5 per cent after a record year for the province in 2014, when the export of goods reached the $1 billion dollar mark for the first time.
Frozen food manufacturing, seafood products and engine, turbine and power transmission equipment manufacturing led all industries in export volume through October. Significant increases were seen in a number of industries including snack foods, electrical equipment and paper container manufacturing.
PEI Bag Company produces packaging for the potato, aquaculture and dry goods industries. The company employs forty people at its facility in Bedeque.
“PEI Bag Company has seen year over year growth of about seven per cent in sales volume compared to 2014," said General Manager Thane Smallwood. “We continue to explore new markets for our paper packaging products with focus in the central and mid-west United States. We work hard to identify new markets and opportunities, and our employees strive to produce a high quality, competitive product on a daily basis.
PEI Juice Works produces several varieties of blueberry juice in Alberton. The company employs seven people and has seen sales grow significantly since it was founded in 2011.
“We've seen a 500 per cent increase in sales this year compared to 2014, with the vast majority of that increase coming from markets in Asia, specifically China," said General Manager Jackson Platts. "Through networking opportunities, solid marketing, new partnerships and collaboration between industry and various levels of government, we've been able to tap into new markets and vastly expand our business."