Paul Ferley, assistant chief economist of the Royal Bank of Canada said at a briefing on the outlook for the US and Canadian economies and the impact of China, July 20 in Markham, ON.
The top Canadian exports to China are resource-based goods such as pulp, paper and paperboard, seeds and beans, wood and wood products, mineral ores, motor vehicles and seafood.
China is Canada’s second-largest trading partner in terms of bilateral trade and is second only to the US in both imports from and exports to China, according to China Daily Thursday.
Elsewhere, the BC Ministry of Forests, Lands, and Natural Resource Operations’ Economic Analysis Branch released Wednesday the last data for BC wood products exports, to May 2017.
BRITISH COLUMBIA FOREST PRODUCT EXPORTS: MAY 2017
BC export values are up +5 per cent for 2017 YTD May compared to the same period in 2016 ($5.97 billion compared to $5.71), said the Competitiveness and Innovation Branch of the Ministry of Forests, Lands, and Natural Resource Operations Wednesday.
Lumber value is up 5 per cent (volumes are down -11 per cent). Pulp export value is up (+7 per cent). The value of Other Wood Products has declined (-3 per cent). The value of Other Paper Products is up (+5 per cent).
In terms of value by destination country China (+11 per cent) and Japan (+10 per cent) are up. Value to Other countries (+6 per cent) is also up. The value to the United States (0 per cent) is relatively unchanged.