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January 06, 2022NOVA SCOTIA - INTERNATIONAL MERCHANDISE TRADE NOVEMBER 2021 With November 2021 reference month results, year-over-year (November 2021 vs November 2020) and year-to-date (Jan-Nov 21 vs Jan-Nov 20) may show rebounds in economic activity from the unprecedented declines observed at the start of the COVID-19 pandemic.
TREND NOVA SCOTIA AND CANADA (Year over year, customs-basis, unadjusted)
Nova Scotia international merchandise exports were $472.7 million in November 2021, an increase of 10.7% compared to November 2020. Nova Scotia export shipments were 6.6% above pre-pandemic levels November 2019 ($443.3 million). Canada merchandise exports increased 24.7% compared to November 2020 and were 24.5% higher compared to November 2019.
Year-over-year (November 2021 vs. November 2020)
International merchandise exports were higher in all provinces, except Ontario (-0.1%) in November 2021. The largest increases were in Alberta and New Brunswick.
Year-to-Date (Jan-Nov 2021 vs Jan-Nov 2020, customs-basis, unadjusted)
Over the first eleven of 2021, Nova Scotia exports have totalled $5,604.6 million, an increase of 18.2% compared to the first eleven months of 2020. Year-to-date exports from Nova Scotia were 0.7% above the pre-pandemic 2019 level which was $5,568.2 million in the first eleven months of that year.
On a year-to-date comparison, Alberta (+48.7%) had the largest increase, followed by New Brunswick, Newfoundland and Labrador, and British Columbia. Ontario (+4.8%) had the smallest increase.
Nova Scotia Year-to-Date by Sector (Jan-Nov 2021 vs Jan-Nov 2020, customs-basis, unadjusted)
The largest dollar increase in year-to-date exports has been farm, fishing and intermediate food products (+$247.6 million, +24.7%), and motor vehicles and parts(+$221.8 million, +21.8%). Most sectors have had higher year-to-date shipments in 2021 than 2020. Year-to-date exports are lower in chemical, plastic and rubber products (-$5.6 million, -2.5%).
Nova Scotia Year-to-Date by Country (Jan-Nov 2021 vs Jan-Nov 2020, customs-basis, unadjusted)
For Jan-Nov 2021 compared to Jan-Nov 2020, Nova Scotia exports to the United States have increased 18.0% or $553.0 million. Exports to China are up 4.9% or $29.6 million.
Exports to large economies in Asia (Japan, South Korea, Hong Kong, Taiwan, Singapore) are up 36.0% (+$82.8 million) and have risen to the largest Euro Area countries (Germany, Italy, France, Netherlands, Belgium, Spain) by 23.5% (+$73.0 million). Exports to Mexico (+18.4%), United Kingdom (+16.7%), and other countries (+25.3%) are higher after lower shipments in 2020.
Statistics Canada. Table 12-10-0119-01 International merchandise trade by province, commodity, and Principal Trading Partners (x 1,000)
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