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August 05, 2021NOVA SCOTIA - INTERNATIONAL MERCHANDISE TRADE JUNE 2021 With June 2021 reference month results, year-over-year (June 2021 vs June 2020) and year-to-date (Jan-June 21 vs Jan-June 20) may show 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 $617.2 million in June 2021, an increase of 21.8% compared to June 2020. Nova Scotia export shipments were 4.4% below pre-pandemic levels from June 2019 ($645.4 million). Canada merchandise exports increased 35.9% in June 2021 compared to June 2020.
Year-over-year (June 2021 vs. June 2020)
International merchandise exports were higher in all provinces in June 2021 with the largest increase in Newfoundland and Labrador (+118.1%) and Alberta (+116.7%) and the smallest increase in Ontario (+5.6%).
Year-to-Date (Jan-June 2021 vs Jan-June 2020, customs-basis, unadjusted)
Over the first six months of 2021, Nova Scotia exports have totalled $3071.9 million, an increase of 25.6% compared to the first six months of 2020. Year-to-date exports from Nova Scotia were 1.5% below the pre-pandemic 2019 level which had reached $3119.0 million in the first six months of that year.
On a year-to-date comparison, New Brunswick (+50.3%) had the largest increase and Prince Edward Island (+0.4%) had the smallest increase.
Nova Scotia Year-to-Date by Sector (Jan-Jun 2021 vs Jan-Jun 2020, customs-basis, unadjusted)
The largest dollar increase in year-to-date exports has been in motor vehicle and parts (+$175.8 million, 35.1%) fishing and intermediate food products (+$148.1 million, +26.7%). Most sectors have had higher year-to-date shipments in 2021 than 2020. Year-to-date exports declined in chemical, plastic and rubber products (-$18.0 million, -14.3%) and special transactions (-$0.5 million, -1.8%).
Nova Scotia Year-to-Date by Country (Jan-June 2021 vs Jan-June 2020, customs-basis, unadjusted)
For Jan-Jun 2021 compared to Jan-Jun 2020, Nova Scotia exports to the United States have increased 23.5% or $382.0 million. Exports to China are up 6.8% or $23.1 million.
Exports to large economies in Asia (Japan, South Korea, Hong Kong, Taiwan, Singapore) are up 52.6% (+$60.7 million) and have risen to the largest Euro Area countries (Germany, Italy, France, Netherlands, Belgium, Spain) by 31.2% (+$44.8 million). Exports to Mexico (+35.4%), United Kingdom (+41.2%), and other countries (+54.1%) 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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