Boost in exports in June 2014

Québec, August 20, 2014 – Québec’s seasonally adjusted international exports in constant dollars at 2007 prices increased 7.0% in June 2014 (down 0.1% in Canada). The cumulative volume for the first six months of 2014 was 6.6% above the level for the corresponding period in 2013 (a 3.7% increase in Canada). This was revealed in the information released today by the Institut de la statistique du Québec on international merchandise trade.

The 25 major commodity groups accounted for 60.9% of Québec exports in June, 1.2 percentage points higher than the previous month. Of these groups, 14 posted gains in June. Heavy fuel oil and aircraft posted the strongest gains, followed by pharmaceutical and medicinal products. The sharpest losses were recorded in aircraft parts and other aerospace equipment, medium and heavy-duty trucks and chassis, and basic semi-finished non-ferrous metal products, except aluminum.

Non-seasonally adjusted exports in current dollars to the United States increased 9.4% and accounted for 68.5% of Québec exports. Aircraft recorded strong growth, followed by pharmaceutical and medicinal products, and unwrought aluminum and aluminum alloys. In addition, aircraft parts and other aerospace equipment, basic semi-finished non-ferrous metal products, except aluminum, as well as paper, except newsprint, recorded the most significant declines.

Exports to Europe climbed 23.3% in June and accounted for 14.1% of Québec exports. The main gains were in aircraft, heavy fuel oil and nickel ores and concentrates. Unwrought aluminum and aluminum alloys, and aircraft parts and other aerospace equipment were the only groups that recorded a decline among the 10 major commodity groups.

Exports to Asia grew 8.9% in June and their relative share of Québec exports was 9.2%. Aircraft recorded a significant gain, followed by oilseeds, except canola, and wood pulp. Iron ore and concentrates, and fresh and frozen pork declined the most.

Slight increase in imports in June 2014

Québec’s seasonally adjusted international merchandise imports in constant dollars at 2007 prices rose 0.4% in June 2014 (down 1.8% in Canada). But their cumulative volume for the first six months of 2014 was 3.4% below the volume recorded for the same period in 2013 (Canada recorded a 1.6% rise).

The 25 major commodity groups accounted for 59.6% of Québec imports, up 2.6 percentage points from the previous month. Of these groups, crude oil showed strong growth, followed by unwrought copper and copper alloys, and aircraft. The most notable declines were in motor gasoline, printed and integrated circuits, semiconductors and circuit assemblies, as well as pharmaceutical and medicinal products.

Non-seasonally adjusted imports from the United States in current dollars grew 13.9% in June 2014 and accounted for 42.1% of Québec imports. Crude oil showed a notable gain, followed by aircraft, and aircraft parts and other aerospace equipment. Among the 10 major commodity groups, plastic resins, printed and integrated circuits, semiconductors and circuit assemblies, as well as medium and heavy trucks and chassis recorded declines.

Imports from Europe dropped 5.0% and accounted for 26.6% of Québec imports. The most significant increases were in tires, and wine and brandy. Motor gasoline recorded a strong decline, followed by turbines and turbine generator set units, and aircraft parts and other aerospace equipment.

Imports from Asia climbed 3.7% and accounted for 18.0% of Québec imports. The main gains were observed in the following groups: footwear, computers and computer peripheral equipment, and women’s clothing. Among the 10 major commodity groups from Asia, aircraft parts and other aerospace equipment, printed and integrated circuits, and semiconductors and circuit assemblies were the only groups to show a decline.


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Sources:

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