Nova Scotia’s economy has been buoyed by gains in export sectors,
despite factors such as weakening employment and retail spending and a
slowdown in home construction being felt across the entire region, says a
report released Wednesday.
“In general, it’s a pretty soft economy across the region, including in Nova Scotia,” said Fred Bergman, senior analyst with the Atlantic Provinces Economic Council.
“Nova Scotia benefited from strong growth in natural gas exports. … Part of it was from Deep Panuke being on stream this year and also the Sable Project producing at a higher level.”
In its economic update for the region, the think-tank said total exports in Nova Scotia increased 50 per cent from January to May.
There has also been an increase in lobster and wood pulp exports.
Lobster fishery exports increased by 43 per cent to May of this year, compared to the same period in 2013. While the United States is the largest importer by far, there are growing sales to Asia over the past five years.
Sales will benefit from weekly shipments of live lobster from Halifax Stanfield International Airport via Korean Air that began May 25 and are expected to continue to the end of August, the report says.
Read more: Nova Scotia exports up 50 per cent in first half of 2014: APEC report | The Chronicle Herald
“In general, it’s a pretty soft economy across the region, including in Nova Scotia,” said Fred Bergman, senior analyst with the Atlantic Provinces Economic Council.
“Nova Scotia benefited from strong growth in natural gas exports. … Part of it was from Deep Panuke being on stream this year and also the Sable Project producing at a higher level.”
In its economic update for the region, the think-tank said total exports in Nova Scotia increased 50 per cent from January to May.
There has also been an increase in lobster and wood pulp exports.
Lobster fishery exports increased by 43 per cent to May of this year, compared to the same period in 2013. While the United States is the largest importer by far, there are growing sales to Asia over the past five years.
Sales will benefit from weekly shipments of live lobster from Halifax Stanfield International Airport via Korean Air that began May 25 and are expected to continue to the end of August, the report says.
Read more: Nova Scotia exports up 50 per cent in first half of 2014: APEC report | The Chronicle Herald
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