Atlantic Canada’s manufacturing sector remains an important contributor to the region’s economy. In 2013, this sector sold more than $37 billion worth of goods, directly contributing almost 7% of the region’s GDP. With a modestly growing domestic economy, the manufacturing sector remains one of the key potential drivers of growth as manufacturers expand into global markets.
Atlantic manufacturing firms are smaller than their national cousins, with exports per plant about 30% lower. Atlantic plants also tend to have lower productivity (measured in terms of output per hour worked), are less likely to innovate and adopt advanced technology.
But there are businesses penetrating the global value chain. They reposition their business and differentiate themselves in global markets through their proprietary technology, specialized competencies or superior quality of their products. These firms are continually innovating, investing in R&D or machinery and equipment, and making sure they stay in touch with the latest market trends.
In this report APEC examines the state of manufacturing in the region and whether the road ahead leads to the EU.
The Report includes:
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