Québec exports increase in August 2014

Québec, October 15, 2014 – Québec’s seasonally adjusted international merchandise exports in constant dollars at 2007 prices rose 10.2% in August 2014 (down 1.9% in Canada). Their cumulative volume for the first eight months of 2014 was 8.0% above the level for the same period in the previous year (up 4.8% in Canada). This was revealed in the information released today by the Institut de la statistique du Québec on international merchandise trade.

Of the 25 main groups of products exported by Québec, 14 forged ahead in August. Aircraft registered a large increase, followed by heavy fuel oils and unwrought aluminum and aluminum alloys. All three groups had posted significant decreases the previous month. On the other hand, pharmaceutical and medicinal products, wood pulps and fresh and frozen pork recorded the steepest drops in August.

Non-seasonally adjusted exports to the United States in current dollars were up 10.1% and their relative share among Québec exports stood at 71.5%. Among the major commodity groups, aircraft, unwrought aluminum and aluminum alloys, and heavy fuel oils posted the most significant increases. However, the strongest declines were recorded by softwood lumber, electricity and paper (except newsprint).

Exports to Europe went down 17.7% and their relative share among Québec exports stood at 9.9%. Among the major commodity exports, the largest increases were observed in lubricants and other petroleum refinery products, other metal ores and concentrates not elsewhere classified, as well as miscellaneous parts of machinery and equipment. On the other hand, significant drops were recorded for unwrought aluminum and aluminum alloys and iron ores and concentrates.

Exports to Asia dropped by 13.4% and accounted for 8.1% of Québec exports. Among the major commodity groups, turbines and turbine generator set units, aircraft and newsprint posted the most significant increases. On the other hand, iron ores and concentrates and commercial and service industry machinery recorded the sharpest decline. 

Imports slightly down in August 2014

Québec’s seasonally adjusted international merchandise imports in constant dollars at 2007 prices dropped 1.6% in August 2014 (up 2.1% in Canada). The cumulative volume for the first eight months of 2014 was 2.2% below its level for the corresponding months of 2013 (a 2.2% rise in Canada).

Of the 25 main groups of products imported by Québec, 14 posted an upswing in August. Among these groups, unwrought copper and copper alloys recorded the highest gain, followed by crude oil and passenger cars. The steepest drops were posted by motor gasoline, aircraft and jet fuel.

Non-seasonally adjusted imports from the United States in current dollars fell by 8.7% and accounted for 37.4% of Québec imports. Passenger cars, light-duty trucks, vans and sport utility vehicles as well as waste and scrap of non-ferrous metals (mainly gold) all posted significant increases. On the other hand, crude oil posted a notable decline, followed by jet fuel.

Imports from Europe dropped by 12.3% and accounted for 25.8% of all Québec imports. Crude oil recorded strong gains, followed by aircraft parts and other aerospace equipment. Motor gasoline, passenger cars, as well as lubricants and other refined petroleum products recorded the largest decreases.

Imports from Asia declined by 3.3% and accounted for 19.4% of all Québec imports. Computers and computer peripheral equipment, and tires posted the largest increases. On the other hand, the sharpest drops were recorded for passenger cars, aircraft and aerospace equipment.


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Sources:

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    Economist
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