Exports continue to climb, says EDC report, but US remains strongest market for Canada

According to the November 2013 Export Performance Monitor report, Canadian exports rose 1.8% to $40.6 billion in September, driven almost entirely by rising volumes. August growth was revised up from 1.8% to 2.4%, pushing it to the largest monthly increase in almost 2 years. Exports are now up 7.2% compared to September of last year, a healthy gain for 2013, said the EDC.

The top performer was the aerospace sector which surged by 20.3%, because of a 39.5% rise in shipments of aircraft. Energy also had a strong month, lifted by natural gas which climbed 17.0% in September alongside a 17.5% gain in refined petroleum products. Agricultural shipments rose 3.5% because of 11.6% gain from live animals and a 16.2% rise in canola exports. Canada's machinery and equipment exports disappointed, falling 3.6%, but the sub-sector results were mixed with agricultural machinery rising 9.0% while construction and mining fell 26%. Overall, eight of eleven major export categories recorded growth on the month, the report said...

This has been excerpted from the 18 November 2013 article by the Canadian Transportation & Logistics, and is available in its entirety at http://www.ctl.ca/news/exports-continue-to-climb-says-edc-report-but-us-remains-strongest-market-for-canada/1002734167/.