Trade
Trade between Québec and the United Kingdom began to increase substantially in the mid-1990s, and almost tripled between 1995 and 2000. Most growth in exports and imports was based on high-tech goods.
After a sharp decrease in 2001 and 2002, total trade (exports and imports combined, expressed in dollars) began to grow in 2003 and reached $6.7 billion in 2005 (according to the Institut de la statistique du Québec (Québec statistics institute) and the analysis and foreign trade division at the Ministère du Développement économique et regional (Québec department of economic and regional development)).
Exports to the United Kingdom
In 2005, the United Kingdom was the second largest market for exports of Québec goods, which totalled C$ 1.47 billion, a drop of 3.6% compared to 2004. The main products exported from Québec to the United Kingdom were electrical devices for telephone or telegraphic lines (14.77%), aircraft, spacecraft and spacecraft launch vehicles (11.75%) and turbo-jets, turbo-propellers and other gas turbines (10.66%).
Imports from the United Kingdom
In 2005, the United Kingdom was Québec’s third largest source of imports for a total of C$ 5.28 billion, an increase of 10.3% over 2004 (Canadian imports that clear customs in Québec). The main imports were petroleum oils and oils obtained from bituminous minerals, crude (57.56%), components for non-powered aircraft and aircraft and spacecraft (11.71%) and turbo-jets, turbo-propellers and other gas turbines (7.62%).
Trade in high-tech goods
High-tech goods represent an important part of Québec exports to the United Kingdom, accounting for 50% of exports in some years.
Investment
The United Kingdom, with over one hundred subsidiaries of British companies in Québec, is one of the main foreign investors. In comparison, around fifty Québec companies have one or more subsidiaries in the United Kingdom.
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