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August 08, 2023NOVA SCOTIA INTERNATIONAL GOODS EXPORTS, JUNE 2023 Year-over-year (June 2023 vs June 2022, domestic exports on a customs-basis, unadjusted)
Nova Scotia international goods exports were $622.9 million in June 2023, a decrease of 6.2% compared to June 2022.
Canada's goods exports were down 14.0%. Eight provinces reported year-over year declines in June 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-June 2023 vs January-June 2022, domestic exports on a customs-basis, unadjusted)
Nova Scotia's international goods exports totalled $3,295.6 million over the first six months of 2023, down 1.6% from the same period in 2022. Across Canada, international goods exports were down 0.5% with year-to-date declines in five 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 mostly in farm, fishing and intermediate products, and motor vehicles and parts, and metal ores, non-metallic minerals. These were offset by larger declines in forestry product exports and consumer goods and smaller declines in chemical and plastic products and machinery and equipment.
The largest year-to-date percentage growth in exports was in the smaller energy category, followed by metal ores, non-metallic minerals, and farm, fishing and intermediate food products. The largest percentage decline, excluding special transaction category, was in forestry products.
The US is by far Nova Scotia's largest destination for international goods exports. For the January-June 2023 period, Nova Scotia exports to the United States were down 1.0% to $2,201.9 million.
China is Nova Scotia's second largest export destination and exports increased 34.5% to $446.7 million in the first six months of 2023.
Among the other reported destination, year-to-date exports are down to most regions with only France, India, Indonesia, and Brazil showing increases. The largest percentage declines have been to Germany, Taiwan, and Netherlands.
Nova Scotia's exports to the US accounted for 66.8% of exports in January-June 2023. Among the top five states, exports are rising to Massachusetts, Illinois, South Carolina, and Texas with only Maine seeing a decline in the first half of 2023.
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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