HALIFAX - The Atlantic Provinces Economic Council says the region's prosperity in the coming decade will depend on its ability to increase exports.
The council says with the exception of crude oil exports from Newfoundland and Labrador, the region has low levels of exports compared with other provinces in terms of value added.
Senior council economist David Chaundy says the Atlantic provinces need to increase exports with the development of higher value-added products and services.
Chaundy says companies in the four provinces should also expand into new markets and raise the bar on productivity.
The council says weak demand for key products such as lumber and newsprint, a higher Canadian dollar and increased competitive pressures have hampered progress in Atlantic exports since 2000.
With the exception of Newfoundland and Labrador, exports in the Atlantic provinces grew at a slower rate between 2000 and 2009.
Despite the slow growth, the council says exports in all four provinces were still higher as a share of GDP in 2009 than in 1990.
International exports of goods and services from Atlantic Canada reached a record $35 billion in 2008 before dropping to $26 billion in 2009 in the midst of the recession.
The council says these exports sustained 150,000 jobs in the Atlantic provinces in 2007, making up about 14 per cent of total employment.
