Canada ExportsJanuary 2023 Data - 1971-2022 Historical - February Forecast

Exports from Canada fell by 2.3% over a month to an eight-month low of CAD 64.4 billion in November of 2022. Declines were observed in 8 of the 11 product sections, largely due to lower exports of energy products (-4.7%), such as coal (-24.3%), natural gas (-13.1%), crude oil and bitumen exports (-1.8%) and refined petroleum energy products (-7.9%). Shipments also decreased for consumer goods (-6.3%), of which pharmaceutical and medicinal products (-12.6%) and meat products (-12.2%); motor vehicles and parts (-6.4%) and metal ores and non-metallic minerals (-13.3%). Exports to countries other than the US were down 1.3% in November. Decreases in exports to Japan (various products), China (copper, wheat, and pulse crops), South Korea (iron ores and copper ores) and other countries were partially offset by a strong increase in exports to the United Kingdom (gold). Shipments from the US fell by 2.6%.

Exports from Canada rose by 1.5% mom to CAD 67.0 billion in October of 2022. Exports rose for consumer goods (+9.7%), mainly pharmaceutical products (+20.7%) led by higher exports of medicinal products to the US. Also, sales of miscellaneous goods and supplies rebounded 30.7%, mainly on higher exports of gold bars and coins to the US. Exports of farm, fishing and intermediate food products rose 10.2% to a record high, due to canola (+73.8%) and wheat (+18.0%). Meanwhile, lower exports of metal and non-metallic mineral products (-15.0%) offset much of the gain in exports in October. Exports to countries other than the US increased 2.2%, led by higher exports to China, South Korea and Italy. Exports to China sharply increased by 25.4% to a record-high $3.3 billion, driven by higher exports of canola, oilseeds and wheat. Lower exports to the UK and Hong Kong offset a large part of these gains, primarily because of a decline in gold deliveries to these countries.

Exports from Canada rose by 1.3% over a month to CAD 66.4 billion in September of 2022, the first increase after two consecutive months of drops. Increases were observed in 6 of 11 product sections, boosted by farm fishing and intermediate food products (+16.7%), mainly wheat (65.2%), reflecting a strong harvest this year. Exports also increased for energy products but at a modest pace (1.9%), as higher shipments of natural gas (10.3%) and crude oil (4%) were partly offset by a slump in those of coal (-18.8%). By contrast, decreases were recorded in sales of metal ores and non-metallic minerals (-11.4%) and forestry products and building and packaging materials (-4.9%), especially lumber and other sawmill products (-14.9%).