Québec, May 24, 2017. – Québec’s seasonally adjusted international exports in constant dollars at 2007 prices increased by 10.6% in March 2017 (up 2.6% in Canada). However, the cumulative export volume for the first quarter of 2017 was 1.8% below its level for the corresponding quarter of 2016 (down 0.8% in Canada). These figures on international merchandise trade were released today by the Institut de la statistique du Québec.
Fifteen of the top 25 products exported by Québec posted gains in March 2017. Aircraft recorded the largest increase, followed by aircraft engines and pharmaceutical and medicinal products. The most significant declines in exports were in iron ores and concentrates, diesel fuel, and printed and integrated circuits, semiconductors, and printed circuit assemblies.
Non-seasonally adjusted exports to the United States in current dollars were up 20.9% in March 2017 and accounted for 68.8% of Québec exports. The top 10 commodity groups exported to our neighbours to the south all posted gains in March. The largest increase was recorded by aircraft, followed by unwrought aluminum and aluminum alloys, and by pharmaceutical and medicinal products.
Exports to Europe were up 33.1% in March 2017, accounting for 15.1% of Québec exports. The highest gains were in aircraft, aircraft engines and petrochemicals. On the other hand, two of the top 10 groups posted a decline, namely diesel fuel and iron ores and concentrates.
Exports to Asia rose by 36.6% in March 2017 and accounted for 8.9% of Québec exports. Aircraft stood out with a large increase in exports, followed by fresh and frozen pork, and light-duty trucks, vans and SUVs. In contrast, the sharpest drop was posted by iron ores and concentrates.
Imports up in March 2017
Québec’s seasonally adjusted international merchandise imports in constant dollars at 2007 prices went up 0.9% in March 2017 (down 0.3% in Canada). However, the cumulative import volume for the first quarter of 2017 was 0.6% below the level recorded in the same quarter of 2016 (up 2.0% in Canada).
Twelve of the top 25 products imported by Québec posted gains in March 2017. Crude oil recorded the largest increase, followed by bauxite and aluminum oxide, and by pharmaceutical and medicinal products. The sharpest drops were posted by jet fuel, motor gasoline, and aircraft parts and other aerospace equipment.
Non-seasonally adjusted imports from the United States in current dollars were up 21.9% and accounted for 36.9% of Québec imports in March 2017. Crude oil saw the most gains, followed by light-duty trucks, vans and SUVs, and by passenger cars.
Imports from Europe rose by 12.9% and accounted for 25.8% of Québec imports in March 2017. The main increases in imports were posted by pharmaceutical and medicinal products, crude oil, and wine and brandy. On the other hand, motor gasoline and aircraft parts and other aerospace equipment recorded the most significant declines in imports from that continent.
Imports from Asia dropped 0.1%, accounting for 21.3% of Québec imports in March 2017. The commodity groups that saw the most growth were passenger cars, computers and computer peripheral equipment, and precious metal ores and concentrates and precious metal bullion. Conversely, the largest drops in imports were in footwear, followed by women’s clothing and men’s clothing.
The Institut de la statistique du Québec produces, analyzes and disseminates official, objective and quality statistical information on various aspects of Québec society. It is responsible for carrying out all statistical surveys of general interest. The relevance of its work makes it a strategic ally for decision makers and all those wishing to learn more about Québec.