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March 10, 2015
For immediate release
Island businesses surpass $1 billion in international exports
Prince Edward Island exported more than $1 billion worth of goods in a single year in 2014, an historic milestone for the province’s business community.
Prince Edward Island had sold $1.12 billion worth of goods to markets outside of Canada last year. Never before has the Island exported a billion dollars in a single year.
Premier and Finance and Energy Minister Wade MacLauchlan joined Innovation and Advance Learning Minister Allen Roach and Island businesses and entrepreneurs to mark the achievement.
“The value of Prince Edward Island’s exports increased by 22 per cent from 2013 to 2014. This is a phenomenal achievement by our province’s business community,” said the premier. “We must build on this success and continue to close the gap between Island imports and exports by supporting entrepreneurs and increasing our competitiveness.”
Exports of farm products and seafood remain the Island’s largest export area, with advanced manufacturing – including aerospace and electronics – being the second most active export group.
The most important market for Island exports was the United States, followed by South Korea, France and the United Kingdom.
The province’s business community is achieving success in traditional markets and new ones by providing both quality and innovation.
“We have been able to find export opportunities by delivering outstanding quality in our traditional seafood and farming sectors, and by encouraging food innovation to allow Island food producers to reach even more of the world market,” said Minister Roach.
“At the same time, we have used this commitment to innovation to help Prince Edward Island become a centre of activity in areas of bioscience, aerospace and advanced manufacturing, information technology, and renewable energy.”
Businesses interested in exploring opportunities for export can find information at tradeteampei.com.
Information on Innovation PEI programs and services for business is at www.innovationpei.com.