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Canada’s forest sector grew in 2014

Sept. 25, 2014, Ottawa - The Honourable Greg Rickford, Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario, today tabled the State of Canada's Forests Report 2014 in the House of Commons.

This year's report highlights the exciting opportunities and growing sense of optimism in Canada's forest sector. The report confirms the results of the Government of Canada's targeted investments in the forest sector, increasing the value of Canada's forest resources, opening new markets, supporting jobs for Canadians and enhancing Canada's prosperity.

While the industry is showing strong signs of growth in some segments - lumber in particular - it is challenged by market trends in other areas. Nonetheless, the pace of recovery in 2013 allowed the industry to post some of its highest revenues in many years. The value of Canada's forest product exports increased by 13.1 per cent from 2012 levels - rising to $28.4 billion from $25.1 billion - and production levels were higher across all market segments.

The report also demonstrates to Canadians and the world that Canada is a leader in sustainable forest management and is committed to transparency in reporting on how its forest resources are managed and maintained. Canada's forest lands include over 150 million hectares of forest land certified by third parties as being sustainably managed - 41 per cent of the world's certified forests.

The Government of Canada is helping Canada's forest industry to diversify its markets and bring innovative, high-value products to the marketplace. Since 2007, the Government has invested $1.8 billion in support of the ongoing transformation and renewal of Canada's forest sector.

Quick Facts

-- Operating profits for Canada's forest sector reached $2.7 billion in 2013, up 152 per cent from 2012. These are the highest operating profits earned over the past eight years. They also represent a considerable rebound from the weak financial performance in 2011 and 2012.
-- Less than 0.5 per cent of Canada's forests are harvested annually to manufacture products for the domestic and international markets, and all forests harvested on public lands must be regenerated.
-- Natural Resources Canada supports and promotes sustainable forest management through research, and it reports domestically and internationally on Canada's environmental performance.

"Canada's forest sector has achieved impressive results in the past year, and this is good news for the families and communities that depend on forests across Canada. Together with our partners, our government is pursuing new opportunities and making the targeted investments needed to ensure the success of Canada's forest sector for the benefit of all Canadians," says Greg Rickford, Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario.

September 25, 2014  By Marketwired