February 21, 2006
For immediate release
Minister Currie Reports 20% Increase in P.E.I. Exports in 2005
Development and Technology
Minister Currie said PEI firms exported merchandise totalling $772.6 million in 2005, which is an increase of 20% compared to 2004. That figure is the highest total in the history of the province. The information was released recently by Statistics Canada.
“A 20% growth in exports is tremendous news for Prince Edward Island businesses as it shows our companies are not only remaining competitive in the global marketplace, but they are seeing growth and expansion,” said the Minister. “I tip my hat to the business community in this province who continue to demonstrate you can succeed with hard work, dedication and ingenuity, even at a time when the rising Canadian dollar makes exporting a bigger challenge.”
Agriculture and fishing products led the export surge, totalling $500.8 million, up $60 million over the previous years, or nearly 14%. But PEI exports also reflect the increasing diversity of our economy, the Minister said. For example, there were increases in industrial goods exports, while machinery and equipment exports rose almost 43%. There was also a strong growth in export value of a wide variety of other products including consumer goods produced for sale abroad.
Minister Currie said the Government, under Premier Pat Binns, has built a strong working relationship with the private sector and that partnership has been paying off. Since 1996, PEI exports have more than doubled.
“In 1996, PEI companies exported a total of $353 million worth of merchandise and efforts to achieve continued growth have created an export market close the three quarters of a billion dollars in 2005, with momentum for future export growth,” said Minister Currie. “This is a good indication that our PEI companies are expanding and Island workers are producing top quality goods which are being sold throughout the world.”