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July 02, 2021NOVA SCOTIA - INTERNATIONAL MERCHANDISE TRADE MAY 2021 With May 2021 reference month results, year-over-year (May 2021 vs May 2020) and year-to-date (Jan-May 21 vs Jan-May 20) are beginning to show the 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 $623.0 million in May 2021, an increase of 71.3% compared to May 2020. Nova Scotia export shipments were 1.6% below pre-pandemic levels from May 2019 ($633 million). Canada merchandise exports increased 48.3% in May 2021 compared to May 2020. Canada merchandise exports were 10.4% below May 2019 level.
Year-over-year (May 2021 vs. May 2020)
International merchandise exports were higher in all provinces in May 2021 with the largest increase in Alberta (+93.3%) and the smallest increase in Prince Edward Island (+6.7%).
Year-to-Date (Jan-May 2021 vs Jan-May 2020, customs-basis, unadjusted)
Over the first five months of 2021, Nova Scotia exports have totalled $2455.0 million, an increase of 26.7% compared to the first five months of 2020. Year-to-date exports from Nova Scotia were 0.8% below the pre-pandemic 2019 level which had reached $2473.7 million in the first five months of that year.
On a year-to-date comparison, New Brunswick (+45.8%) had the largest increase and Prince Edward Island (-4.5%) had the only decline.
Nova Scotia Year-to-Date by Sector (Jan-May 2021 vs Jan-May 2020, customs-basis, unadjusted)
The largest dollar increase in year-to-date exports has been in farm, fishing and intermediate food products (+$135.0 million, +32.3%) and motor vehicle and parts (+$133.9 million, 31.1%).
Year-to-date exports declined in chemical, plastic and rubber products (-$19.8 million, -17.8%) and special transactions (-$0.3 million, -1.6%).
Nova Scotia Year-to-Date by Country (Jan-May 2021 vs Jan-May 2020, customs-basis, unadjusted)
For Jan-May 2021 compared to Jan-May 2020, Nova Scotia exports to the United States have increased 23.1% or $301.1 million. Exports to China are up 12.1% or $31.5 million.
Exports to large economies in Asia (Japan, South Korea, Hong Kong, Taiwan, Singapore) are up 84.7 (+$64.6 million) and have risen to the largest Euro Area countries (Germany, Italy, France, Netherlands, Belgium, Spain) by 23.7% (+$26.0 million). Exports to Mexico (+32.1%), United Kingdom (+29.8%), and other countries (+54.7%) are recovering 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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