Exploring Alberta's Economy through Data.
Alberta's Export Potential
Alberta exports products from many sectors. While historical strengths will continue to play a large role, which products sectors, or trade partners can provide growth and diversification opportunities in the future?
Econometric modeling can help determine what regions and sectors could play an important role in growing Alberta's export economy in the future.
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Alberta's total actual exports of comparable products is $37B.
Alberta's total estimated export potential stands at $58B.
Alberta's unrealized export potential is $21B.
If this potential value was fully realized, it would represent 60% growth over current export value. Although this value is not necessarily realistic given the limitations of the econometric model and real-world constraints it does demonstrate the real possibility to diversify and grow Alberta's exports.
(*Includes all products except fuels and oils.)
Alberta has products that are in demand around the world. The insights provided from econometric modeling uncovers potential opportunities to grow and diversify exports.