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May 04, 2023NOVA SCOTIA INTERNATIONAL GOODS EXPORTS, MARCH 2023 Year over year (March 2023 vs March 2022, domestic exports on a customs-basis, unadjusted)
Nova Scotia international goods exports were $554.2 million in March 2023, a decrease of 0.6% compared to March 2022.
Canada's goods exports were up 1.9%. Five provinces reported year-over year increases in March 2023 with Prince Edward Island (+30.5%) and Manitoba (+23.4%) leading the growth. Five provinces reported a decline in goods exports from a year ago with Newfoundland and Labrador reporting the largest decline (-36.2%)
Year-to-Date (January-March 2023 vs January-March 2022, domestic exports on a customs-basis, unadjusted)
Nova Scotia's international goods exports totalled $1,588.0 million over the first three months of 2023, up 6.2% from the same period in 2022. In Canada, international goods exports were up 10.0% with gains in eight provinces. The fastest export growth was reported in Prince Edward Island, Manitoba and Saskatchewan while the largest decline was reported in Newfoundland and Labrador.
Among broad product categories, Nova Scotia's year-to-date exports growth was most attributable to gains in farm, fishing and intermediate products, and consumer goods. The largest percentage increase was in the smaller energy category. Machinery/equipment, other transportation equipment, and forestry products had the largest declines during the first three months of the year.
The US is by far Nova Scotia's largest destination for international goods exports. For the January-March 2023 period, Nova Scotia exports to the United States were up 5.6% to $1,046.2 million.
China is Nova Scotia's second largest export destination and exports increased 41.8% to $284.5 million in the first three months of 2023.
The fastest growth was in relatively small export destinations of Indonesia, Switzerland, and Brazil. Year to date, the largest declines in exports were in Mexico, South Korea, and Netherlands.
Nova Scotia's exports to the US accounted for 65.9% of exports in January-March 2023. Among the top five states - Massachusetts, Illinois, South Carolina, and Texas had increases compared to January-March 2022 while exports to Maine declined.
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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