OTTAWA – Canada’s ICT sector GDP increased 0.7% in the third quarter of 2012, the second consecutive increase after having remained essentially flat between the third quarter of 2011 and the first quarter of 2012. This according to Industry Canada’s recently released the Quarterly Monitor of the Canadian ICT Sector for the Third Quarter of 2012. The Quarterly Monitor reports on growth rates in output (GDP), manufacturing shipments, employment and exports for the Canadian ICT sector and its main industries, using the most up-to-date indicators available.
Third quarter highlights of 2012:
• Manufacturing industries GDP increased by 0.4% after four consecutive quarters of decline. The largest increase was in the computer and peripheral equipment industry, up 2.5%. In the services industries, GDP increased 0.7% led by the wholesaling industries which grew by 3.2%.
• Shipments of ICT manufacturers stabilized this quarter after four consecutive quarters of decline. The increases in shipments of communications equipment and instruments balanced the decreases in electronic components and computer and peripheral equipment, resulting in no changes this quarter.
• The number of employees in the ICT sector increased sharply (1.3%) after three consecutive quarters of decline. The number of employees declined in the manufacturing industries (-0.4 %) but increased sharply in the services industries (1.7%).
• ICT goods exports fell sharply, down 6.5%. This decline was heavily influenced by a 24.7% drop in exports of electronic components. Exports of ICT goods to the US and EU-25 dropped 7.0% and 5.6%, respectively, while exports to the Asia Pacific region increased by 6.0%. Exports to all other countries declined by 19.9%.
