The Ivany Report released by the One Nova Scotia Coalition in February 2014 listed boosting the province’s exports
among its 19 recommendations. For enterprises doing business in Halifax, exporting goods to elsewhere in the nation, on the continent and even around the globe, not only benefits these individual companies’ bottom lines, but also helps kick-start the Nova Scotian economy. In acknowledgement of the industry’s immense economic importance, the Halifax Partnership followed the Ivany Report’s lead and made improving exports one of its organizational objectives.
“Nova Scotian exports are expanding in both number and diversity.”
As revealed in the latest edition of the Halifax Partnership’s Halifax Index, Nova Scotian exports are expanding in both number and diversity. According to the index, four out of the 10 top countries where Nova Scotia products end up are in Asia – in no small part due to the booming seafood trade. According to Export Development Canada’s chief economist Peter Hall, China and the United States are the province’s top export markets, so enterprises eager to become part of the export industry in Nova Scotia might want to consider starting with these two countries – especially if they’re selling seafood. In fact, CBC reported in 2014 that there was so much Asian demand for live Nova Scotian lobster, Korean Air Cargo set up a weekly flight from Halifax Stanfield International Airport last December. The Lobster Council of Canada proceeded to jump at the opportunity, developing a marketing strategy earlier this year that was centred on the slogan “The best lobster in the world comes from Canada.”
The seafood sector is far from the only industry that could stand to benefit from strengthening its exports, and the Halifax Partnership can help local businesses take advantage of the opportunities available.
Halifax business news brought to you by the Halifax Partnership, Halifax’s economic development organization.