Turnaround expected for Alberta exports
Posted May 21, 2015 7:01 am.
This article is more than 5 years old.
This year isn’t looking so good for Alberta, but Export Development Canada says there is light at the end of the tunnel.
EDC is forecasting earnings will be 17 per cent lower in 2015, but partial price recovery for oil would help boost exports in 2016 to a 19 per cent gain.
Chief Economist Peter Hall says this is a difficult year for Alberta exports, but with oil prices expected to cross the $70/barrel mark, there is an anticipated turn around next year.
EDC believes the energy sector will bounce back with 27 per cent growth in 2016.
Alberta exports from sectors such as agriculture, machinery and equipment, and chemicals and plastics, are expected to grow seven per cent this year and four per cent next year.
