Exports down in February 2015

Québec, April 22, 2015 – Quebec’s seasonally adjusted international exports in constant dollars at 2007 prices declined by 0.5% (down 0.2% in Canada). Still, the cumulative export volume for the first two months of 2015 was 13.2% above its level for the same period in 2014 (up 7.3% in Canada). These figures on international merchandise trade were released today by the Institut de la statistique du Québec.

Ten of the 25 major commodity groups exported by Québec posted gains in February. Iron ores and concentrates recorded the largest increase, followed by diesel fuel and electricity. In contrast, light fuel oils posted the sharpest drop, followed by aircraft and unwrought copper and copper alloys.

Non-seasonally adjusted exports to the United States in current dollars decreased by 4.7% in February 2015 and accounted for 71.4% of Québec exports. Among the 10 major products exported to the United States, electricity, diesel fuel, and printed and integrated circuits, semiconductors, and circuit assemblies recorded the most noteworthy increases. Aircraft, unwrought aluminum and aluminum alloys, and unwrought copper and copper alloys posted the largest declines.

Exports to Europe rose 23.4% in February and accounted for 12.9% of Québec exports. Aircraft posted a notable increase, followed by nickel ores and concentrates, and turbines and turbine generator set units. Iron ores and concentrates, aircraft parts and other aerospace equipment, and copper ores and concentrates registered the steepest declines.

Exports to Asia were up 57.0% and accounted for 8.9% of Québec exports. The 10 major commodity groups exported to Asia all posted an increase in February. Aircraft and iron ores and concentrates recorded the strongest gains.

Imports decreased in February 2015

Québec’s seasonally adjusted international merchandise imports in constant dollars at 2007 prices fell 10.7% in February 2015 (down 1.9% in Canada). The cumulative import volume for the first two months of 2015 was 2.2% below its level for the corresponding months of 2014 (up 3.9% in Canada).

Of the 25 main groups of products imported by Québec, four posted an increase in February. Unwrought iron, steel and ferro-alloys as well as computers and computer peripheral equipment recorded the largest increases. Crude oil declined sharply, followed by light-duty trucks, vans and SUVs and jet fuel.

Non-seasonally adjusted imports from the United States in current dollars were down 11.4% in February 2015 and accounted for 37.6% of Québec imports. Among the 10 major products imported from the United States, the strongest increases were recorded by passenger cars and light-duty trucks, vans and SUVs. Crude oil posted a significant drop, followed by motor gasoline and printed and integrated circuits, semiconductors, and printed circuit assemblies.

Imports from Europe increased by 15.7% and accounted for 23.1% of Québec imports. The 10 major commodity groups imported from Europe all posted an increase in February. The strongest gains were in aircraft parts and other aerospace equipment, raw furskins and animal products not elsewhere classified, and motor gasoline.

Imports from Asia declined by 2.1% and accounted for 24.0% of all Québec imports in February. The strongest increase came from the materials handling equipment group, including cargo conveyors. The sharpest drops were in women’s clothing, passenger cars, and aircraft parts and other aerospace equipment.


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Sources:

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