NS Export Growth to Lead Country, Port Hawk Fuels Forest Sector

Export Development Canada's (EDC) forecast for Nova Scotia's export growth calls for a rebound of 17 per cent in 2013 after a 14 per cent decline this year.

"Nova Scotia's export growth will lead the country in 2013 with a jump of 17 per cent, driven by a more positive outlook for the natural gas sector, paper mills coming back on line and improved U.S. demand," said Peter Hall, Chief Economist, EDC. "Next year's growth is a relief, a welcome sharp rebound from the 14 per cent decline in 2012."

The forestry sector is also important to Nova Scotia's export picture, responsible for 16 per cent of the province's total exports, and will see growth of 103 per cent growth next year after a 50 per cent decline this year.

"The reopening of the NewPage Port Hawkesbury paper mill will be the base of the forestry export story next year," said Hall. "The shutdown of the Bowater Mersey Mill in Brooklyn, while impactful to the province, is not expected to weigh down export growth as most of its production supplies the domestic market."