EDC Export Performance Monitor, December 2017

December 7, 2017

After a four-month slump, exports finally rebounded in October, up 2.7%. Imports were down 1.6%. As a result, Canada’s merchandise trade deficit with the world was $1.5 billion in October, narrowing from $3.4 billion in September.

Export volumes increased by 1.2% on the month. Year-over-year nominal exports are now up 0.8%. Gains were broad-based, with improvements in 9 of 11 sectors, led by industrial products and materials, and agriculture and fishing products. Automotive products finally rebounded after a four-month slide, up 1.2%, but remain over 20% below its peak in May.

Exports to the United States were up over 4% on the month. Exports of petroleum products (gasoline and diesel) were up smartly, related to higher U.S. demand. Provincially, the year-to-date dynamics continue to show the story of rebounding energy exports with Alberta and Newfoundland and Labrador leading the way.

The full report is available on the EDC website.

Topic(s)

Exports

Information source

Industry Publication

Disclaimer

The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.

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