Québec, September 20, 2017. – Québec’s seasonally adjusted international exports in constant dollars at 2007 prices declined by 8.2% in July (down 3.1% in Canada). Nonetheless, the cumulative export volume for 2017 showed a 3.5% increase compared with its level for the first seven months of 2016 (up 3.2% in Canada). These figures on international merchandise trade were released today by the Institut de la statistique du Québec.
Sixteen of the top 25 products exported by Québec posted an increase compared with the previous month. Pharmaceutical and medicinal products stood out with the strongest growth, followed by aluminum and aluminum alloys, then by copper and copper alloys. On the other hand, aircraft registered the sharpest drop in July.
Non-seasonally adjusted exports to the United States in current dollars dropped 12.1% in comparison with the month of June and accounted for 72.3% of Québec exports. Pharmaceutical and medicinal products recorded by far the most significant increase, while aircraft parts and other aerospace equipment registered the largest decline.
Exports to Europe were down 26.7% compared with the previous month and accounted for 13.2% of Québec exports. Iron ores and concentrates rose the most in July, followed by light fuel oils. Aircraft clearly stood out among products on the decline.
Exports to Asia were down 14.7% in July and accounted for 8.3% of Québec exports. Other metal ores and concentrates not elsewhere classified and commercial and service industry machinery recorded the strongest monthly gains. Iron ores and concentrates declined the most in comparison with the previous month.
Imports also down in July
Québec’s seasonally adjusted international merchandise imports in constant dollars at 2007 prices were down 4.6% in July (down 2.2% in Canada). Still, the cumulative import volume for the first seven months of 2017 was up 2.9% compared to its level for the corresponding period of 2016 (up 3.8% in Canada).
Eight of the top 25 products imported by Québec posted gains in July. Motor gasoline registered the most growth, followed by light-duty trucks, vans and SUVs, then by tires. Aircraft and crude oil were down the most.
Non-seasonally adjusted imports from the United States in current dollars fell 26.4% compared with the previous month and accounted for nearly a third of Québec imports (30.9%). Crude oil stood out with the largest increase in July, while light-duty trucks, vans and SUVs decreased the most, followed by passenger cars, aircraft parts and other aerospace equipment, and pharmaceutical and medicinal products.
Imports from Europe decreased by 13.0% in July and accounted for 29.5% of Québec imports. Aircraft, turbines and turbine generator set units and motor gasoline are the three products that grew the most. Aircraft parts and other aerospace equipment as well as lubricants and other petroleum refinery products saw the most significant monthly declines.
Finally, imports from Asia accounted for 25.4% of Québec imports and were down 6.1% compared with the month of June. Women’s clothing, tires, and men’s clothing registered the strongest growth. Conversely, light-duty trucks, vans and SUVs stood out with the largest decline, followed by ships, then by computers and computer peripheral equipment.
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.