Quebec’s Manufacturing Industry Pushes Back
Quebec’s manufacturing sector managed to eke out some gains in 2017. The increase in GDP, salaried employment, sales and merchandise exports are proof of this industry’s staying power. That said, there’s no guarantee that the gains made in 2017 will continue through 2018. Much uncertainty still hovers over the sector: the unpredictable outcome of the North American Free Trade Agreement (NAFTA) renegotiation, mounting countervailing and anti-dumping duties imposed by the United States and the possibility of major tax cuts for U.S. corporations. It would be surprising if 2018 turned out to be the year everything changed, however. With this in mind, the forces at work could reach an equilibrium, especially in terms of North America’s economic momentum. As such, Quebec’s manufacturing sector could remain relatively stable in 2018. On the other hand, prospecting for new outlets in foreign markets is becoming an increasingly profitable alternative for Quebec’s manufacturers.
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