Manufacturing

Manufacturing Shipments Soar

• The value of manufacturing shipments rose by 20.7% in New Brunswick in 2000, well above the national increase of 9.2%.

• The group of miscellaneous industries1, which includes over one-third of total shipments, increased by 45.1% in 2000, mainly because of strong world commodity prices. Other significant increases occurred in the chemical products, fabricated metal products, machinery, printing and publishing, and paper and allied products sectors.

• Employment in the manufacturing sector grew by 1,800 to reach 41,100 in 2000, a 4.6% increase. The sector accounts for almost 13% of total provincial GDP.

• Construction of the $1-billion expansion at the Irving Oil refinery is complete. Other developments include construction of the $150-million textile plant of Atlantic Fine Yarns, the $70-million expansion of Atlantic Yarns, and completion of the $19-million toiletry products plant by Solutions International Inc.

• Saint John’s Lantic sugar refinery closed after 85 years of operation and the shipyard’s last contract was completed in April 2000. There is a national initiative under way to help find solutions for the shipbuilding industry.

• The anticipated slowdown of the American economy, combined with the softening of world commodity prices (most notably petroleum), will moderate growth of manufacturing shipments in 2001.

(1) The miscellaneous group of industries comprises diverse small plants as well as large producers such as the Irving Oil refinery, the Saint John shipyard and Brunswick Mining and Smelting.