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November 05, 2024NOVA SCOTIA INTERNATIONAL GOODS EXPORTS, SEPTEMBER 2024 Year-over-year (September 2024 vs September 2023, domestic exports on a customs-basis, unadjusted)
Nova Scotia international goods exports were $538.8 million in September 2024, a decrease of 0.6% compared to September 2023.
Canada's goods exports increased by 0.4% compared to September 2023. Six provinces reported year-over year increases in goods exports in September 2024. Prince Edward Island reported the largest growth, while Manitoba reported the steepest drop in goods exports.
Year-to-date (January-September 2024 vs January-September 2023)
Comparing the first nine months of 2024 to the same period in 2023, Nova Scotia's domestic exports were up 2.2%. Nationally, exports increased 0.7% with gains in five provinces. Newfoundland and Labrador reported the largest increase while Saskatchewan reported the steepest decline in year-to-date goods exports.
Among broad product categories, Nova Scotia's domestic exports grew the most for metal/non-metallic mineral products, chemical/plastic/rubber products and motor vehicles/parts. Shipments of energy (a small value to begin with), farm/fishing/intermediate food products, forestry products and machinery/equipment were down, as were special transactions.
Note: there has been a substantial revision to Nova Scotia exports of energy products in 2024.
The US is by far Nova Scotia's largest destination for international goods exports. In January-September 2024, Nova Scotia exports to the United States were up 6.6% over January-September 2023, rising to $3,518.3 million.
China is Nova Scotia's second largest export destination and exports decreased 12.3% year-to-date to $554.7 million during January-September 2024.
Among the other significant export destinations, year-to-date exports were up sharply to South Korea, the Netherlands, Germany, Australia, Brazil, Switzerland, Norway and Taiwan. There were notable year-to-date export declines to India, France, Hong Kong, Spain, Mexico and Singapore.
Nova Scotia's exports to the US accounted for 69.6% of exports in January-September 2024. Massachusetts alone was a larger export destination for Nova Scotia goods than China in the first nine months of 2024. Year-to-date exports were up for all of Nova Scotia's top ten US state destination, except Florida. The largest dollar value increases were for Texas, Massachusetts, Wisconsin and Illinois.
Source: Statistics Canada. Table 12-10-0175-01 International merchandise trade by province, commodity, and Principal Trading Partners (x 1,000); Table 12-10-0099-01 Merchandise imports and exports, customs-based, by Harmonized commodity description and coding system (HS) section, Canada, provinces and territories, United States, states (x 1,000)
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