The industrial goods sector accounts for 34 percent of the province's exports, and is forecast to grow by 16 percent and 3 percent in 2010 and 2011, respectively. The outlook for exports of ores and metals, the principal segment of the industrial goods sector, will largely be driven by strong demand from China over the next two years. Shipments of iron ore to European markets strong in 2009, and stimulus-related impact is expected to peak by mid-2010. Following the peak, EDC expects a return of private sector demand in the US that should compensate for the winding down of government stimulus spending.
EDC is Canada's export credit agency. EDC's knowledge and partnerships are used by more than 8,400 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining, a recognized leader in financial reporting and economic analysis.