It’s not all doom and gloom when it comes to the provincial economy. After a slight dip in 2013, New Brunswick exports are forecast to rebound.
The revival in U.S. homebuilding and a looming shortage of lumber in B-C is bringing explosive growth to New Brunswick’s forestry sector with a forecasted 14 per cent surge in exports this year, followed by 8 per cent growth in 2015.
Peter Hall, Chief Economist with Export Development Canada says upcoming projects like the West-East pipeline and the plan to convert the Canaport LNG terminal into an export facility are potential game changers for the province’s export picture for years to come.
Higher prices for seafood exports will grow the province’s agri-food sector by 3 per cent this year and next.
