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![]() Thursday, January 12, 2006 Canadian international merchandise tradeNovember 2005Canada's merchandise exports fell for the first time in nine months in November as record energy prices cooled off. However, if energy products were excluded, exports would have risen slightly, boosted by increased shipments of automobiles and metal ores. ![]() Exports slipped 2.0% to $39.7 billion from the record high revised level of $40.5 billion in October.
Again, exports of natural gas were the key factor, declining 18.5% to $3.7 billion, which followed four consecutive monthly increases. Natural gas prices and volumes each retreated 10.0%. Much of these declines can be attributed to American natural gas production coming back online in the wake of back-to-back hurricanes in the Gulf Coast. Canada's merchandise imports, which stood at a record high $32.9 billion in October, remained relatively stable in November, edging down 0.1% to $32.8 billion. As a result, Canada's trade surplus with the world slipped to $6.9 billion. At the same time, the trade surplus in energy products fell from its all-time high of $6.5 billion in October to $5.3 billion as energy exports declined and imports rose. Exports to the United States fell back 1.6% from October's record high of $33.3 billion. Imports were down 0.1%. Canada's trade surplus with the United States fell from $11.5 billion in October to $11.0 billion in November. The deficit with countries other than the United States widened for the third consecutive month, from $3.2 billion in August to a record high $4.1 billion in November. Exports to countries other than the United States have been strong in 2005, hitting a record high in August of $7.5 billion. However, they have declined in each successive month. Imports from these countries surged in September and have since held steady at a record high $11.1 billion. Exports: Automotive and metal ore exports post gainsThough energy exports ensured a decline in overall exports in November, gains were recorded in Canada's automotive exports and metal ore exports. Energy exports as a whole fell 11.1% to $8.4 billion as a decrease in petroleum and coal products accompanied the drop in natural gas. In contrast, crude petroleum gained ground in November, increasing 7.1% to a new high of $2.9 billion. Despite the drop, the value of energy exports was still the highest among all export sectors in November. Two other sectors (automobile and machinery) both registered increases to $8.0 billion. For the automotive sector, it was the highest level since $8.1 billion recorded in June 2004. Though reports of restructuring have led to headlines questioning the strength of the Canadian auto industry, automotive exports have been robust in past months, recording their seventh successive increase in November. ![]() Passenger auto exports, which led this climb, jumped 5.9%. Auto sales in the United States have also been robust in recent months, with many of the models that are in high demand being produced in Ontario. Metal ore exports jumped 19.5%, with shipments of iron ore, copper ore, and nickel ore leading the way. As well, exports of primary iron and steel posted gains, reaching a record high of $67.5 million. British Columbia's exports from January to November 2005 have surpassed the total 2004 value for the province, with rising metal ore exports being a contributing factor. The main reason for British Columbia's growth in 2005 has been soaring energy prices. Other energy-exporting provinces, such as New Brunswick, Saskatchewan and Alberta, have also surpassed their 2004 totals. For the first time in eight months, exports of live animals failed to register a gain, dropping 11.0% to $191.1 million. Live cattle exports had been pushing up live animal exports since the lifting of the US ban on cattle under the age of 30 months in July, but shipments fell back slightly in November. Japan announced in December that it will re-open its border to Canadian beef following a two-year ban. In 2002, the year before the ban was imposed, the Canadian beef industry exported $52.7 million worth of beef to Japan, an average of $4.4 million a month. Japan was at that time the third largest destination for Canadian beef, next to the United States and Mexico. In 2002, total beef exports were slightly more than $2.0 billion. Imports: Energy products and consumer goods on the riseRising imports of energy products and consumer goods were offset by widespread declines in automotive products and industrial goods and materials. Energy products experienced the largest gain in November as imports jumped 5.1% to a record high $3.1 billion. Petroleum and coal products, specifically fuel for aircraft, were the driving force behind the increase, rising to a historic high of $828.9 million. Imports of other consumer goods increased to a record high of $4.3 billion in November. Import levels for other consumer goods, which include products such as consumer electronics, sports equipment and toys, printed matter, and apparel and footwear, have been very strong throughout 2005, with monthly values all above $4.0 billion for the first year ever. Prices for these goods have been falling, particularly as a result of the appreciating dollar. Constant dollar imports of consumer goods have jumped from $41.0 billion in 2002 to $44.6 billion in 2003 to $48.4 billion in 2004. With one month left in 2005, constant dollar imports are standing at $47.7 billion. Imports of machinery and equipment edged down in November to $9.4 billion. However, these imports during 2005 climbed from $8.8 billion in January to $9.4 billion in June and have hovered between $9.3 billion and $9.5 billion in the months following. Imports of motor vehicle parts dropped 4.5%. Imports in two sub-groups fell for the second month in a row, with declines of 4.1% for passenger autos and chassis and 2.3% for trucks and other motor vehicles. Available on CANSIM: tables 228-0001 to 228-0003 and 228-0033 to 228-0046. Definitions, data sources and methods: survey numbers, including related surveys, 2201, 2202 and 2203. The November 2005 issue of Canadian International Merchandise Trade, Vol. 59, no. 11 (65-001-XIB, $15/$151) is now available. The publication includes tables on a balance of payments basis (by commodity and principal trading area) and on a customs basis (by commodity and country). Current account data (which incorporate merchandise trade statistics, service transactions, investment income and transfers) are available quarterly in Canada's Balance of International Payments (67-001-XIE, $32/$100). Merchandise trade data are available in PDF format on the morning of release. For more information on products and services, contact Anne Couillard, (1-800-294-5583; 613-951-6867). To enquire about the concepts, methods or data quality of this release, contact Diana Wyman (613-951-3116), International Trade Division.
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