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September 05, 2018NOVA SCOTIA - INTERNATIONAL MERCHANDISE TRADE JULY 2018 Year-to-Date (Jan-Jul 2018 vs. Jan-Jul 2017, customs-based, unadjusted)
In Jan-Jul 2018, Nova Scotia International Merchandise Trade Exports increased 8.4% ($263.8 million) over Jan-Jul 2017, to $3.4 billion.
YTD - By Sector
Comparing Nova Scotia's exports for Jan-Jul 2018 with the same period last year, the largest dollar value increases were in Forestry ($105.1 million), Consumer goods ($31.7 million) and Rubber Products ($29.5 million). Energy increased 210.0% but now makes up a relatively small portion of Nova Scotia's exports.
On a year-to-date basis, export values increased in
- Forestry/Building/Packaging Materials by 29.3% ($105.1) million)
- Consumer Goods by 3.5% ($31.7) million)
- Chemical, plastic, rubber by 15.7% ($29.5) million)
- Farm, Fishing & Inter. Food by 4.6% ($26.2) million)
- Metal/Mineral Products by 22.1% ($26.1) million)
- Motor vehicles/Parts by 3.4% ($25.0) million)
- Energy by 210.0% ($16.8) million)
- Metal/Ores by 44.8% ($12.8) million)
In Jan-Jul 2018, Consumer goods led the way with a value of $937.7 million. Motor vehicles and parts is the second largest commodity group in Nova Scotia at $766.5 million. Number three is Farm, fishing and Intermediate Food at $600.9 million. The fourth largest is Forestry, Building and Packaging Materials sector at $464.4 million. Together, these four sectors account for 81% of Nova Scotia domestic exports.
YTD by Province
In Jan-Jul 2018, Newfoundland and Labrador reported the highest increase (+25.8%) in merchandise trade exports over Jan-Jul 2017. Nova Scotia reported a +8.4% gain in merchandise trade exports. The Canadian average was a 5.6% increase in merchandise trade exports over Jan-Jul 2017. Exports were down in Ontario (-0.5%) and Prince Edward Island (-3.4%) over the same period last year.
Excluding energy exports, Manitoba reported the fastest growth at 12.6%, followed by Alberta at 10.0%. Three provinces (Ontario, Prince Edward Island and Newfoundland and Labrador) were down 0.7%, 3.4% and 13.3% respectively. Canada reported a 2.9% increase in Non-energy exports.
YTD Exports by International Destination
Nova Scotia’s trade continues to diversity. Although exports to the US grew by 4.2 per cent or +$86 million (YTD Jan-Jul18 vs Jan-Jul17). This is slower than the overall pace of export growth (8.4%), indicating that the province’s exports are growing more rapidly in other jurisdictions. Nova Scotia’s exports to China are up by 24.7 per cent or +$91 million in the same period. Exports to other markets in Asia are down (11.4%) after sharp increases last year, up 20.6% in selected European countries.
In Jan-Jul 2018, the United States share of Nova Scotia domestic exports declined 3 points to 63% over the same period last year.
In Jan-Jul 2018, the China share of Nova Scotia domestic exports increased 1 points to 13% over the same period last year.
In Jan-Jul 2018, other major Asian (Japan, South Korea, Hong Kong, India, Indonesia, Sinapore) share of Nova Scotia domestic exports decreased 2 points to 7% over the same period last year.
In Jan-Jul 2018, major Europen countries share of Nova Scotia domestic exports increased 1 point to 7% over the same period last year. (United Kingdom, Germany, Italy, France, Netherlands, Belgium, Spain )
Statistics Canada.
Table 12-10-0001-01 International merchandise trade by commodity (x 1,000,000)
12-10-0002-01 International merchandise trade by province and commodity (x 1,000,000)
12-10-0012-01 International merchandise trade by province, commodity, and Principal Trading Partners (x 1,000)
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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