A difficult start to the year for Quebec exports

Quebec's merchandise exports are down significantly in early 2024.

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In January, the province recorded a 5.5% decrease compared to the previous month.

“There is a lot. We must remember that the heart of Quebec's economy is manufacturing SMEs. When there is a discount of 5.5%, it is felt. It should not continue over time,” declared Philippe Richard Bertrand, co-founder of Amplio Strategies, in an interview with LCN.

While it is common to observe a dip in exports at the beginning of the year, 2024 is particularly high, the expert noted.

The 5.5% decrease is more than three times the 1.4% between December 2022 and January 2023.

SMEs are at risk

Last year, Quebec faced an average of eight business bankruptcies per day, Philippe Richard Bertrand emphasized.

“There is currently a 44% increase in commercial bankruptcy cases,” he said.

The latter also lamented the lack of measures in the last Girard budget to help SMEs, which represent 89% of Quebec's economy.

“We are the lungs of the Quebec economy and we have done nothing to help these SMEs. They are completely forgotten in Mr. Girard's budget,” declared the co-founder of Amplio Strategies.

To watch the full interview, watch the video above.