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Canada's merchandise exports up

Canada's merchandise exports increased 3.2%, while imports declined 0.8%.

As a result, Canada's trade balance with the world went from a deficit of $487 million in October to a surplus of $1.1 billion in November.

Exports and imports

Exports rose to $40.1 billion, as most sectors posted gains. Prices increased 1.7%, led by energy products, while volumes rose 1.6%, largely the result of automotive products.

Imports declined to $39.0 billion, as both volumes and prices fell. The overall decline in imports was attributable to lower imports of automotive products, as well as industrial goods and materials. The decline was partially offset by an increase in energy products.

Canada's trade surplus with the United States increased from $3.5 billion in October to $4.6 billion in November. Exports to the United States rose 1.9% to $28.6 billion, on the strength of energy products. Imports from the United States declined 2.0% to $24.0 billion, largely the result of lower imports of automotive products.

Exports to countries other than the United States rose 6.7% to $11.5 billion, mainly the result of higher exports to the European Union. Imports from countries other than the United States increased 1.3% to $15.0 billion, the fourth consecutive monthly gain. Canada's trade deficit with countries other than the United States narrowed from $4.0 billion in October to $3.5 billion in November.

Energy products lead the increase in exports

Exports of energy products increased 6.4% to $10.0 billion in November, as prices increased 6.3%. Exports of crude petroleum rose for the fourth consecutive month to a record high of $6.4 billion. Strong gains were also reported in petroleum and coal products, which rose 17.6%, and coal and other bituminous substances, which were up 28.5%. Lower exports of natural gas moderated the sector's increase.

Exports of industrial goods and materials rose 4.0% to $10.2 billion in November. Higher volumes of precious metals and alloys, as well as other crude non-metallic minerals, drove the gain. The increase was partially offset by a decline in volumes of fertilizers and fertilizer materials.

Exports of automotive products increased for a third consecutive month in November, rising 4.9% to $5.3 billion. Exports of passenger autos and chassis rose 8.5% to $3.6 billion, their highest level since January 2011. The gain was the result of higher volumes.

Imports: Automotive products, and industrial goods and materials lead the decline

Imports of automotive products declined 4.4% to $5.7 billion in November, as volumes fell 4.0%. Trucks and other motor vehicles fell 13.6%, while passenger autos and chassis fell 8.1%. Partly offsetting these declines was a 3.8% increase in motor vehicle parts.

Imports of industrial goods and materials fell 3.0% to $8.3 billion following three consecutive monthly increases. Prices declined 3.7%. Imports of metals and metal ores fell 6.4%, with precious metals and alloys leading the decline.

Imports of machinery and equipment declined 1.1% to $10.7 billion in November, as decreases occurred in three of four sub-sectors. Aircraft and other transportation equipment fell 10.1%, the result of a decline in volumes. Higher imports of other machinery and equipment partially offset the overall decrease.

Imports of energy products increased 2.0% to $4.6 billion, the third consecutive monthly increase. Petroleum and coal products, namely fuel oil, rose 9.1% in November.

 

© Statistics Canada -


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