Nearly 3,000 Waterloo Region firms exported more than $11.6 billion in goods in 2005

Canada’s Technology Triangle, Waterloo Region - The international orientation of businesses in Ontario’s Waterloo Region is again highlighted in a new study on the export performance of the Region’s businesses. The analysis was released April 22, 2008 by Canada’s Technology Triangle Inc.

Total exports by Waterloo Region businesses in 2005 were worth more than $11.6 billion – an increase of 43.8 percent from 2000.

“This is astoundingly strong when compared to national and provincial figures,” noted John Tennant, Chief Executive Officer of Canada’s Technology Triangle Inc. Over the same period, Ontario’s exports declined by 3 percent, while Canadian exports were up by 5.6 percent.

“Waterloo Region firms exported more goods in 2005 than five Canadian provinces – each of the four Atlantic provinces and Manitoba,” added Tennant. “It is a testimony to the competitiveness of Canada’s Technology Triangle and its ability to remain on the leading edge of technology in manufacturing, while growing an envied high technology sector.”

Not surprisingly, the commodity category covering transportation equipment of all types, led the list by value at $6.3 billion in 2005. Other individual categories with 2005 exports of more than $100 million were:

· Electrical and Electronic Machinery and Equipment;

· Machinery, Boilers and Mechanical Appliances;

· Furniture, Bedding, Mattress and Related Products;

· Plastics and Plastic Articles;

· Optical, Photo, Cine, Measuring, Checking and Precision Equipment;

· Iron and Steel Articles;

· Rubber and Rubber Articles; and

· Preparations of Cereals, Floor, Starch, Milk and Pastries.

The absolute growth in the transport equipment exports was notable at more than $2 billion over its 2000 export total, while the electrical and electronic machinery and equipment grew by over $1 billion since 2000.

The data covers 2005 exports from 2,942 Waterloo Region exporters. The number of exporters in 2005 is up from 2,568 in 2000. Examined by commodity categories, the largest number of exporters were the 474 firms selling “machinery, boilers and mechanical appliances”, a long recognized strength of the Regional economy. The second ranking sector was “plastics and plastics articles” which involves 272 exporters.

The most recent study was undertaken by Community Benchmarks. In recent years, Canada’s Technology Triangle Inc has released a number of studies on Waterloo Region exports by Community Benchmarks, but this study is a new approach. The previously available Statistics Canada databases are no longer accessible. The new study draws on commodity (rather than industry) data for exporters in Waterloo Region that is tabulated principally under the Harmonized System (HS) used by Customs authorities. While it cannot be directly compared to previous reports, the new data sources produce similar results to the previous methodology. Use of the new data, however, leads to greater suppression of certain data. This especially affects the ability to produce comprehensive information on the countries to which goods are exported.

To access the report, visit http://www.techtriangle.com/UploadedFiles/2008-04-22_Export_Analysis.pdf