13 January 2005

Drop in automotive exports major contributor to disappointing November

The following article is excerpted from the 12 January 2005 edition of “Canadian Transportation & Logistics”.

The drop in exports of automotive products, which fell 6.7% in November to $7.0 billion, played a central role in November's decline in exports.

Within the sector, trucks and other motor vehicles experienced the greatest decline. Following the spike in October, exports of trucks and other motor vehicles slipped back 28.5% to $1.1 billion, closer to August levels. Exports of motor vehicle parts declined 5.9%, while passenger autos and chassis managed a small increase to $3.7 billion.

Forestry product exports declined for the sixth consecutive month, falling $109.9 million to $3.0 billion. Exports of wood pulp and other wood products fell 5.6%, while those of newsprint and other paper and paperboard were down 1.7%. Exports of lumber and sawmill products fell 3.9% to $1.5 billion but other crude wood product exports rose 6.0% to $71.5 million.

Exports of industrial goods and materials fell for the fifth consecutive month, hitting $6.3 billion in November. The three product groups in this sector (chemicals, plastics and fertilizers; other industrial goods and materials; and metals and alloys) each contributed to the decline.

Exports of machinery and equipment declined 1.5%, the fifth consecutive monthly drop. Other machinery and equipment exports and industrial and agricultural machinery contributed to the decline, but this was partially offset by a 1.8% gain in exports of aircraft and other transportation equipment.

Exports of agricultural and fish products rose for the second consecutive month in November, with a gain in wheat exports leading the way. After falling 58.3% between August and October, wheat exports jumped 41.0% to $253.4 million. Exports of canola and barley declined in November following gains the month before….

Although crude petroleum exports have continued to rise, exports of energy products fell by 3.9% overall, from October's revised $6.2 billion to $5.9 billion. Exports of natural gas decreased the most in November. However, exports of other energy products (such as petroleum and coal products, and electricity) also declined.