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June 07, 2023NOVA SCOTIA INTERNATIONAL GOODS EXPORTS, APRIL 2023 Year over year (April 2023 vs April 2022, domestic exports on a customs-basis, unadjusted)
Nova Scotia international goods exports were $478.0 million in April 2023, a decrease of 13.5% compared to April 2022.
Canada's goods exports were down 2.8%. Six provinces reported year-over year declines in April 2023 with Newfoundland and Labrador and Alberta reporting the biggest decreases. Prince Edward Island reported the fastest year-over-year growth in international goods exports.
Year-to-Date (January-April 2023 vs January-April 2022, domestic exports on a customs-basis, unadjusted)
Nova Scotia's international goods exports totalled $2,065.4 million over the first four months of 2023, up 0.9% from the same period in 2022. Across Canada, international goods exports were up 6.2% year-to-date with gains in six provinces. The fastest export growth was reported in Prince Edward Island 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, consumer goods, and motor vehicles and parts. These were offset by a substantial decline in forestry product exports.
Excluding smaller categories (energy, special transactions), the largest year-to-date percentage growth in exports was reported in metallic ores and non-metallic minerals. The largest percentage decline was in forestry products.
The US is by far Nova Scotia's largest destination for international goods exports. For the January-April 2023 period, Nova Scotia exports to the United States were up 1.1% to $1,394.9 million.
China is Nova Scotia's second largest export destination and exports increased 38.1% to $288.9 million in the first four 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, Taiwan and Germany.
Nova Scotia's exports to the US accounted for 67.5% of exports in January-April 2023. Among the top five states - Massachusetts, Illinois, South Carolina, and Texas had increases compared to January-April 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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