TORONTO, Ont. — An Export Development Canada report suggests Ontarios exports will decline next year.
The report says Ontarios export growth will remain stagnant in 2006 and will drop 3% in 2007.
The struggles of the automotive, consumer goods and forestry sectors are to blame, according to the report. A strong Canadian dollar, excess capacity and increased global competition have also contributed.
Stephen Poloz, vice-president of the EDC says exports of autos and parts will be down 5% by the end of 2006, with another decline of 6% expected next year.
Canadas economic growth is forecast to remain stable at 2.8% in 2006 and 2.4% in 2007, the report says.
– With files from the Canadian Press
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