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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

July 02, 2020
NOVA SCOTIA - INTERNATIONAL MERCHANDISE TRADE MAY 2020

During the COVID-19 pandemic, comparisons of year-to-date averages and sums do not show Nova Scotia’s rapidly changing economic situation.  The DailyStats will focus on year-over-year comparisons, comparing one month with the same month in the prior year.  Where possible the DailyStats will make comparisons of seasonally adjusted data from the pre-COVID-19 period (January and February 2020) with the period during which COVID-19 measures were in place from March 2020 onwards.

 

Year-over-year (May 2020 vs May 2019, customs based, unadjusted)

In May 2020, Nova Scotia  International Merchandise Trade Exports decreased 42.9%  ($271.8 million) over May 2019, to $361.2 million.

 

Year-over-year - By Sector

Comparing Nova Scotia's exports for May 2020 with the same period last year, all sectors were in decline. The smallest dollar value declines were in Energy (-$0.1 million), Special Transactions (-$1.7 million),  and Transportation Equipment (-$2.0 million).  The largest dollar value decreases were in Motor vehicles/Parts (-$83.8 million), Forestry/Building/Packaging Materials (-$72.2 million),  and Machinery/Equipment (-$41.5 million).

 

Year-over-year by Province

In May 2020 Prince Edward Island reported the lowest decline (-6.3%), while Newfoundland and Labrador reported the highest decline (-58.3%)  in merchandise trade exports over May 2019. Nova Scotia reported a 42.9% loss in merchandise trade exports.  Canada reported a 39.8% loss in merchandise trade exports over  May 2019.

Excluding energy exports, Saskatchewan reported the highest increase (+5.0%) while Newfoundland and Labrador reported the highest decline (-54.7%)  in Non-energy exports over May 2019. Nova Scotia reported a 43.0% loss in Non-energy exports. Canada reported a 32.2% loss in Non-energy exports over May 2019.

 

 

 YEAR-OVER-YEAR EXPORTS BY INTERNATIONAL DESTINATION

  

By Commodity

 

In Nova Scotia May 2020, international export trade to all countries decreased 42.9 to $361.2 million over May 2019.

  • Consumer Goods led the way  with a value of $119.0 million  (32.9% share), followed by
  • Farm, Fishing & Inter. Food with a value of $105.5 million  (29.2% share),
  • Motor vehicles/Parts with a value of $39.2 million  (10.9% share),
  • Forestry/Building/Packaging Materials with a value of $34.9 million  (9.6% share),
  • Chemical, plastic, rubber with a value of $18.2 million  (5.0% share),
  • Electronics with a value of $10.4 million  (2.9% share),
  • Metal/Mineral Products with a value of $10.3 million  (2.9% share),
  • Metal/Ores with a value of $7.6 million  (2.1% share),
  • Machinery/Equipment with a value of $7.2 million  (2.0% share),
  • Transportation Equipment with a value of $4.6 million  (1.3% share),
  • Special Transactions with a value of $3.8 million  (1.1% share), and ,
  • Energy with a value of $0.5 million  (0.1% share).

 

By Trading Partner

 

 

In North America, May 2020 vs May 2019, year-over-year export trade to  the United States decreased 35.5% (-$137.8 million) to $250.5 million. Mexico decreased 48.9% (-$3.0 million) to $3.2 million.

 

 

 

In Asia, May 2020 vs May 2019, year-over-year export trade to China decreased 56.3% (-$61.9 million) to $48.1 million.  Japan down 19.2% (-$1.5 million)  to $6.4  million;  South Korea down 43.7% (-$5.3 million)  to $6.9  million;  Hong Kong down 84.7% (-$21.5 million)  to $3.9  million;  India down 76.2% (-$3.2 million)  to $1.0  million;  Taiwan down 28.5% (-$0.4 million) to $1.0  million;  Indonesia down 100.0% (-$7.7 million)  to $0.00  million;  Singapore down 93.9% (-$3.4 million)  to $0.2 million.

In Europe, May 2020 vs May 2019, year-over-year export trade to the United Kingdom down 59.4% (-$3.7 million)  to $2.5  million;  Germany down 7.8% (-$0.4 million)  to $4.9  million;  Italy up 83.6% ($1.3 million)  to $0.3  million;  France down 34.9% (-$2.0 million)  to $3.8  million;  Netherlands up 43.6% (-$3.3 million) to $4.3  million;  Belgium down 44.5% (-$1.9 million)  to $2.3  million;  Spain down 77.1% ($0.9 million)  to $0.5 million; Norway up 90.1% ($0.9 million)  to $1.9  million; Switzerland down 64.7% (-$0.6 million)  to $0.3  million; Russian Federation up 147.5% ($0.2 million)  to $0.39  million.

In other countries, May 2020 vs May 2019, year-over-year export trade to Brazil down 89.5% (-$2.9 million)  to $0.3  million; Peru up less than 0.01% ($0.01 million)  to $0.01  million; Algeria up less than 0.01%;  Saudi Arabia up 309.3% ($0.17 million)  to $0.2  million; Turkey up 49.3% ($0.2 million)  to $0.5  million; Iraq down less than 0.01% (-$0.1 million)  to zero; Australia up 96.2% ($0.631 million)  to $1.29  million; Residual down 38.7% (-$10.6 million)  to $16.7 million.

 

12-10-0119-01 International merchandise trade: Nova Scotia sectors

12-10-0119-01 International merchandise trade: by province and commodity
12-10-0119-01 International merchandise trade: by province and energy commodity
12-10-0119-01 International merchandise trade: by province, commodity, trading partners

Trading partners group 1: All, US, China
Trading partners group 2: Japan et al
Trading partners group 3: UK et al
Trading partners group 4: Mexico et al

 



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