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June 06, 2024NOVA SCOTIA INTERNATIONAL GOODS EXPORTS, APRIL 2024 Year-over-year (April 2024 vs April 2023, domestic exports on a customs-basis, unadjusted)
Nova Scotia international goods exports were $542.2 million in April 2024, an increase of 13.1% compared to April 2023.
Canada's goods exports rose by 4.5% compared to April 2023. Seven provinces reported year-over year increases in goods exports in April 2024. Newfoundland and Labrador reported the steepest decline while Alberta reported the largest increase.
Year-to-date (January-April 2024 vs January-April 2023)
Comparing the first four months of 2024 to the same period in 2023, Nova Scotia's domestic exports were up 3.7%. Nationally, exports declined 1.2%. Prince Edward Island reported the largest growth (followed by Nova Scotia) and Saskatchewan the largest decline in year-to-date exports of goods.
Among broad product categories, Nova Scotia's domestic exports grew particularly rapidly for energy products, though this was a small value in January-April 2023 ($9 million). Outside of energy products, there was strong export growth for Nova Scotia's electronics, chemical/plastic/rubber products, motor vehicles/parts and non-metallic mineral products. Shipments of farm/fish/food products were down, as were machinery/equipment and consumer goods.
The US is by far Nova Scotia's largest destination for international goods exports. In January-April 2024, Nova Scotia exports to the United States were up 8.7% over January-April 2023, rising to $1,517.4 million.
China is Nova Scotia's second largest export destination and exports decreased 19.0% year-to-date to $236.8 million from January-April 2024.
Among the other significant export destinations, year-over-year exports were up sharply for Japan, the Netherlands, South Korea, Saudi Arabia, Taiwan, and Mexico. There were notable year-to-date export declines to France, Spain, Germany, Hong Kong and India.
Nova Scotia's exports to the US accounted for over 70% of exports in January-April 2024. Massachusetts alone was a larger export destination for Nova Scotia goods than China in the first four months of 2024. Among the top ten states for Nova Scotia exports, year-to-date exports were down for Maine, Pennsylvania and South Carolina. Exports were up for 7 of Nova Scotia's top 10 US state destinations, led by notable year-to-date gains in shipments to Wisconsin, Texas and Florida.
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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