P.E.I. export growth expected to continue to lead country

Prince Edward Island led the country in export growth in 2015, and the relatively strong growth is expected to continue for the next two years.

P.E.I. saw a 16 per cent growth in the value of exports in 2015, while the energy sector was dragging down exports nationally to -1.5 per cent, according to the recently released spring 2016 report from Export Development Canada.

The Island is expected to lead the country again in 2016 with seven per cent growth, while the national growth will be just two per cent. Exports are expected to pick up nationally in 2017, with P.E.I. remaining about in the middle of the country for growth.

But those provinces expected to outperform P.E.I. in 2017 are forecast to suffer through another year of negative growth in 2016.

More than just fish and chips

Increased seafood production and high frozen potato prices are expected to be a major factor in 2016's growth.

Frozen potato inventories in the U.S. started the year at record lows. With new trade agreements coming on line, demand for frozen french fries in the Caribbean and Asia is expected to continue that growth into 2017.

But the growth is not just about the Island's traditional potatoes and seafood. P.E.I.'s aerospace industry will continue to benefit from the low value of the dollar. That sector will lead growth for the province, with the forecast for 2016 being that it will match 2015's 13 per cent increase.