LONDON, Ont. - A new report says Ontario's export growth is expected to rise by a moderate three per cent in 2009 after a forecasted 14 per cent decline this year.
Export Development Canada says while export volumes may not rebound in 2009, revenues are likely to rise because of the weaker dollar.
The export credit agency says Ontario exports were hit hard this year because of the province's heavy connection to the U.S. economy.
It says the auto sector accounts for about 37 per cent of Ontario's exports, which are expected to be down more than 20 per cent this year.
In 2009, shipments of cars and auto parts are forecast to increase slightly, but the value could increase because of the weaker Canadian dollar.
The agency says Canadian exports are forecast to grow by two per cent in 2008 before declining one per cent in 2009.
