B.C.’s exports to China and South Korea hit record levels in 2011, with exports to the Pacific Rim for the first time outstripping those to the U.S.
“The end-of-year numbers are very heartening and they validate the approach we have adopted in [the B.C. Jobs Plan] with its focus on Asia,” said Pat Bell, minister of jobs, tourism and innovation.
“The U.S. remains a vital market for B.C. goods – but it is clear from these numbers that the greatest opportunities for growth will be concentrated in Asia, particularly China.”
B.C.’s total exports grew 14.2% to $32.8 billion in 2011. Pacific Rim exports made up 43% of the total, up from 36% the previous year.
B.C.’s top five export markets in 2011 were:
- the U.S., which increased 5.4% to $14 billion;
- China and Hong Kong, which increased 24% to $5.1 billion;
- Japan, which increased 11.7% to $4.7 billion;
- South Korea, which increased 45% to $2.7 billion; and
- the European Union, which increased 14.6% to $2.3 billion.
Earlier this month, Port Metro Vancouver released its 2011 cargo volumes, which were up 3.4% from the previous year.
