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December 06, 2022NOVA SCOTIA INTERNATIONAL GOODS EXPORTS, OCTOBER 2022 Year over year (October 2022 vs October 2021, domestic exports on a customs-basis, unadjusted)
Nova Scotia international goods exports were $553.8 million in October 2022, an increase of 14.1% compared to October 2021.
Canada's goods exports were up 23.4%. International goods exports were higher in all provinces except Newfoundland and Labrador in October 2022. The largest increases were in Manitoba, Alberta and Saskatchewan.
Year-to-Date (January-October 2022 vs January-October 2021, domestic exports on a customs-basis, unadjusted)
Nova Scotia's international goods exports totalled $5,526.9 million over the first ten months of the year up 7.5% from the same months in 2021. In Canada, international goods exports were up 27.7% with gains in all provinces. The fastest export growth was reported in Alberta, Saskatchewan and New Brunswick, the slowest growth was reported in Nova Scotia.
Among broad product categories, Nova Scotia's year-to-date exports growth was most attributable to gains in farm, fishing and intermediate food products as well as consumer goods and forestry products. In percentage terms, the fastest gains for specified categories (excluding special transactions) were in chemical, plastic and rubber products, machinery and equipment, electronics and electrical equipment, as well as meatal ores and non-metallic minerals. Most commodity categories have increased with declines only in metal and non-metallic mineral products, motor vehicle/parts and other transportation equipment.
The US is by far Nova Scotia's largest destination for international goods exports. Through the first ten months of 2022, Nova Scotia's exports of goods to the US were up 10.0% to $3,649.7 billion.
China is Nova Scotia's second largest export destination. Nova Scotia exports to China were down 0.5% to $594.1 million through the first ten months of 2022.
Following China, the next largest export destinations through the first ten months of the year were France (+19.8% to $104.4 million), South Korea (-2.8% to $102.9 million), the UK (+33.9% to $102.4 million) and the Netherlands (-1.7% to $90.1 million). Among Nova Scotia's major trading partners, the fastest percentage growth in domestic exports was to Indonesia (+108.7% to $15.1 million).
Nova Scotia's exports to the US accounted for 66.0% of year-to-date exports. Massachusetts alone was a larger export destination than China with $693.5 million in shipments through the first ten months of 2022 (-$14.8 million compared to the first ten months of 2021). Through the first ten months of 2022, the next largest US state destinations for Nova Scotia exports were: Illinois (-$3.5 million to $413.4 million), South Carolina (+$39.7 million to $370.6 million), Maine (+$8.7 million to $246.9 million), Texas (+$16.7 million to $217.7 million), New York (+$59.4 million to $160.6 million), California (+$3.8 million to $143.6 million), Florida (+$8.6 million to $$115.5 million), and Wisconsin (+$37.6 million to $110.0 million). Each of these states would rank above France as an export destination for Nova Scotia goods producers.
Source: Statistics Canada. Table 12-10-0119-01 International merchandise trade by province, commodity, and Principal Trading Partners (x 1,000); Table 12-10-0099-01 Merchandise imports and exports, customs-based, by Harmonized commodity description and coding system (HS) section, Canada, provinces and territories, United States, states (x 1,000)
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