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December 08, 2021NOVA SCOTIA - INTERNATIONAL MERCHANDISE TRADE OCTOBER 2021 NOVA SCOTIA - INTERNATIONAL MERCHANDISE TRADE OCTOBER 2021
With October 2021 reference month results, year-over-year (October 2021 vs October 2020) and year-to-date (Jan-Oct 21 vs Jan-Oct 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 $484.7 million in October 2021, an increase of 11.4% compared to October 2020. Nova Scotia export shipments were 3.2% above pre-pandemic levels October 2019 ($469.6 million). Canada merchandise exports increased 16.1% compared to October 2020 and 7.7% compared to October 2019.
Year-over-year (October 2021 vs. October 2020)
International merchandise exports were higher in all provinces, except Ontario (-6.4%) in October 2021. The largest increases were in Alberta (+50.0%) and Newfoundland and Labrador (+45.1%).
Year-to-Date (Jan-Oct 2021 vs Jan-Oct 2020, customs-basis, unadjusted)
Over the first ten months of 2021, Nova Scotia exports have totalled $5,130.8 million, an increase of 18.9% compared to the first ten months of 2020. Year-to-date exports from Nova Scotia were 0.1% above the pre-pandemic 2019 level which was $5,124.9 million in the first ten months of that year.
On a year-to-date comparison, Alberta (+45.4%) had the largest increase, followed by New Brunswick, Newfoundland and Labrador, and British Columbia. Ontario (+5.2%) had the smallest increase.
Nova Scotia Year-to-Date by Sector (Jan-Oct 2021 vs Jan-Oct 2020, customs-basis, unadjusted)
The largest dollar increase in year-to-date exports has been farm, fishing and intermediate food products (+$221.1 million, +23.7%), and motor vehicles and parts(+$218.2 million, +24.1%). Most sectors have had higher year-to-date shipments in 2021 than 2020. Year-to-date exports are lower in chemical, plastic and rubber products (-$7.4 million, -3.8%).
Nova Scotia Year-to-Date by Country (Jan-Oct 2021 vs Jan-Oct 2020, customs-basis, unadjusted)
For Jan-Oct 2021 compared to Jan-Oct 2020, Nova Scotia exports to the United States have increased 18.6% or $519.7 million. Exports to China are up 5.4% or $30.5 million.
Exports to large economies in Asia (Japan, South Korea, Hong Kong, Taiwan, Singapore) are up 40.5% (+$82.6 million) and have risen to the largest Euro Area countries (Germany, Italy, France, Netherlands, Belgium, Spain) by 22.0% (+$62.7 million). Exports to Mexico (+37.9%), United Kingdom (+13.8%), and other countries (+27.3%) are higher 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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