Northern Development Initiative Trust

The economy of northern B.C. has largely stabilized since the downturn in commodity prices in 2014, according to a new report by the Northern Development Initiative Trust and accounting firm MNP LLP. “The data is clear that the decline in commodity prices in 2014 had a significant impact on the regional economy,” McKay said in a statement. “The good news is that the data also shows that economic conditions in the region have stabilized more recently, and major project activity across the region has created opportunities for new investment.” …”For example, in 2016 alone, forest and energy product exports account for 56 (per cent) of the total value of B.C.’s exports, or about $21.5 billion,” the report says. …Still, it’s clear that without rural B.C., and northern B.C. as the largest part of it, B.C. would suffer from an incredible trade deficit.”