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April 07, 2021NOVA SCOTIA - INTERNATIONAL MERCHANDISE TRADE FEBRUARY 2021 TREND NOVA SCOTIA AND CANADA (Year over year, customs-basis, unadjusted)
Nova Scotia international merchandise exports were $418.2 million in February 2021, an increase of 11.4% compared to February 2020. February 2021 is the first month since November 2019 with year-over-year growth in export shipments. Nova Scotia export shipments remained below pre-pandemic levels from 2019. Canada merchandise exports increased 1.6% in February 2021 compared to February 2020.
Year-over-year (Feb 2021 vs. Feb 2020)
International merchandise exports were higher in six provinces in February 2021 with the largest increase in British Columbia (+30.6%). Exports from Newfoundland and Labrador (-26.5%) and Prince Edward Island (-21.4%) had the largest declines compared to a year ago.
Year-to-Date (Jan-Feb 2021 vs Jan-Feb 2020, customs-basis, unadjusted)
Over the first two months of 2021, Nova Scotia exports have totalled $846.9 million, an increase of 1.4% compared to the first two months of 2020. Year-to-date exports from Nova Scotia remain below the 2019 level which had reached $916.5 million in the first two months.
On a year-to-date comparison, British Columbia (+23.4%) has had the largest increase and Newfoundland and Labrador (-19.3%) has had the largest decrease.
Nova Scotia Year-to-Date by Sector (Jan-Feb 2021 vs Jan-Feb 2020, customs-basis, unadjusted)
The largest dollar increase in year-to-date exports has been in forestry, building and packaging materials (+$20.3 million, +25.5%) and farm, fishing and intermediate food products (+$16.3 million, +8.2%).
The largest dollar decrease in year-to-date exports has been in consumer goods (-$21.4 million, -11.6%) and chemical, plastic and rubber products (-$8.2 million, -18.3%).
Nova Scotia Year-to-Date by Country (Jan-Feb 2021 vs Jan-Feb 2020, customs-basis, unadjusted)
For Jan-Feb 2021 compared to Jan-Feb 2020, Nova Scotia exports to the United States have increased 2.5% or $13.4 million.Exports to China are down 22.0% or $29.1 million.
Exports to large economies in Asia (Japan, South Korea, Hong Kong, Taiwan, Singapore) are up 64.1%(+$19.1 million) while they have fallen to the largest Euro Area countries (Germany, Italy, France, Netherlands, Belgium, Spain) by 6.4% (-$3.0 million) and the United Kingdom by 24.8% (-$2.8 million) on a year-to-date basis.
Statistics Canada. Table 12-10-0119-01 International merchandise trade by province, commodity, and Principal Trading Partners (x 1,000)
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