Exports from Canada declined 1.4 percent from a month earlier to CAD 48.70 billion in November 2019, after dropping 0.4 percent in October and below market estimates of CAD 49.3 billion. Energy products drove the overall decrease, down 7.4 percent on lower exports of crude oil, mainly due to disruptions in crude oil pipeline transportation following a rupture that occurred in late October. This was despite a surge in sales of natural gas (30.7 percent). On the other hand, gains were posted in sales of metal & non-metallic mineral products (7.3 percent) that reached a record in November, boosted by unfinished precious metal products (29.5 percent). Also, exports grew for farm, fishing & intermediate food products (9.6 percent), as sales of canola and other crop products mainly soybeans rebounded, primarily to European destinations. Exports to the US decreased 3.3 percent while those to countries other than the US advanced 4.3 percent, mainly the UK, France and Hong Kong. Exports in Canada averaged 22527.84 CAD Million from 1971 until 2019, reaching an all time high of 52554.20 CAD Million in May of 2019 and a record low of 1366 CAD Million in February of 1971. source: Statistics Canada

Exports in Canada is expected to be 51000.00 CAD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Canada to stand at 53000.00 in 12 months time. In the long-term, the Canada Exports is projected to trend around 53000.00 CAD Million in 2020, according to our econometric models.

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Canada Exports

Actual Previous Highest Lowest Dates Unit Frequency
48694.60 49397.20 52554.20 1366.00 1971 - 2019 CAD Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-10-04 12:30 PM Aug C$50.58B C$49.66B C$48.4B
2019-11-05 01:30 PM Sep C$49.8B C$50.41B C$50.35B C$52B
2019-12-05 01:30 PM Oct C$49.91B C$49.53B C$49.3B C$49.6B
2020-01-07 01:30 PM Nov C$48.7B C$49.4B C$49.3B C$50B
2020-02-05 01:30 PM Dec C$51.5B

News Stream
Canada Exports Edge Up 0.8% MoM in October
Exports from Canada were up 0.8 percent from a month earlier to CAD 49.91 billion in October 2019 and above market expectations of CAD 49.3 billion. Shipments rose for consumer goods (+5.5 percent), mainly miscellaneous goods and supplies; energy products (+3.4 percent), mostly crude oil (+2.7 percent) and refined petroleum products (+15.2 percent); and metal and non-metallic mineral products (+5.7 percent), of which gold (+16.8 percent). Partially offsetting the overall gain, exports of farm and fishing products (-12.6 percent) posted the largest decline in October, amid lower shipments of other crop products (mainly soybeans) to China.

Canada Exports Fall 1.3% MoM in September
Exports from Canada fell 1.3 percent from a month earlier to CAD 49.78 billion in September, largely offsetting the increase in August and below market consensus of CAD 50.35 billion. Decreases were observed in 7 of 11 product sections. Exports declined for metal and non-metallic mineral products (-7.3 percent) mostly on lower gold shipments (CAD -371 million); farm, fishing and intermediate food products (-7.3 percent), of which canola exports (-48.9 percent). Also, shipments of energy products declined due to lower crude oil exports (-2.1 percent). Since the beginning of the year, exports were up 1.9 percent compared with the same period in 2018. On a quarterly basis, exports fell 2.3 percent in the three months to September, after a 4.8 percent rise in Q2.

Canada Exports Rise 1.8% MoM in August
Exports from Canada rose 1.8 percent month-over-month to CAD 50.58 billion in August 2019 from a downwardly revised CAD 49.66 billion in July. Shipments increased for energy products (3.9 percent), driven by higher exports of crude oil (2.9 percent); aircraft (38.7 percent) and metal and non-metal products (3.6 percent). Meanwhile, lower exports of motor vehicles and parts (-2.3 percent) partially offset the increase in total exports.

Canada Exports Fall 0.9% MoM in July
Exports from Canada were down 0.9 percent month-over-month to CAD 49.8 billion in July 2019 from an upwardly revised CAD 50.22 billion in the previous month. Declines were mostly seen in shipments of energy products (-6.7 percent), as a result of lower crude oil exports (-7.7 percent); and farm, fishing and intermediate food products (-5.4 percent), mainly due to lower wheat exports (-20.9 percent). These decreases were partially offset by a 8.5 percent rise in exports of metal and non-metallic mineral products, on higher sales of refined gold to the US and transfers of gold within the banking sector. Exports of unwrought aluminum (18.2 percent) were also up in July, following a 36.4 percent increase in June, the first full month after the removal of US tariffs on Canadian aluminum. Exports to the US fell 1.1 percent and those to countries other than the US edged down 0.3 percent, mostly to China (metal ores and pork).

Canada Exports Fall 5.1% MoM in June
Exports from Canada were down 5.1 percent month-over-month to CAD 50.3 billion in June 2019 from a downwardly revised CAD 53 billion in the previous month and against market consensus of CAD 51.5 billion. Exports of energy products fell 7.4 percent to CAD 10 billion, as shipments of crude oil dropped 8.6 percent, marking the first monthly decrease in 2019. Also, exports of aircraft and other transportation equipment and parts decreased 25.1 percent to CAD 2.2 billion, dragged down by lower sales of aircraft (-40.8 percent), amid lower shipments of commercial aircraft to the United States.

Canada Exports Hit Record High in May
Exports from Canada rose 4.6 percent month-over-month to CAD 53.1 billion in May 2019 from an upwardly revised CAD 50.8 billion in April and against market expectations of CAD 50.4 billion. It was the highest value in exports since series began in 1971, driven by higher shipments of motor vehicles & parts (12.4 percent to CAD 8.4 billion), mainly due to exports of passenger & light trucks (17.8 percent); aircraft & other transportation equipment (33 percent to CAD 2.9 billion) and energy products (5.0 percent to CAD 10.8 billion). On the other hand, exports of metal & non-metal mineral products decreased 11.8 percent to CAD 5.0 billion. Among major trading partners, exports to the US went up 3.7 percent, hitting a record high of CAD 37.8 billion, followed by increases in shipments to China (4.6 percent) and Japan (17.4 percent) while those fell to the UK (-34.6 percent).

Canada Exports
Exports account for more than 30 percent of Canadian GDP. In 2018, Canada main exports were: energy products (19 percent); motor vehicles and parts (15 percent); consumer goods (11 percent); metal and non-metallic mineral products (11 percent); forestry products and building and packaging materials (8 percent); farm, fishing and intermediate food products (7 percent); industrial machinery, equipment and parts (7 percent) and basic and industrial chemical, plastic and rubber products (6 percent). The US is by far the largest destination for Canadian products (74 percent of total exports); followed by the EU (8 percent), of which Germany (3 percent), China (5 percent) and Japan and Mexico (2 percent each).

Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -1088.90 -1606.80 8524.80 -4953.10 CAD Million [+]
Current Account -9855.00 -6740.00 12492.00 -20035.00 CAD Million [+]
Current Account to GDP -2.60 -2.80 2.70 -4.20 percent [+]
Imports 49783.50 51004.00 52433.30 1112.00 CAD Million [+]
Exports 48694.60 49397.20 52554.20 1366.00 CAD Million [+]
External Debt 2694641.00 2736179.00 2736179.00 795408.00 CAD Million [+]
Terms of Trade 92.50 91.50 108.50 79.10 points [+]
Foreign Direct Investment 13386.00 23066.00 50326.00 -8640.00 CAD Million [+]
Capital Flows 0.00 0.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.20 0.00 Tonnes [+]
Crude Oil Production 4390.00 4320.00 4520.00 955.00 BBL/D/1K [+]
Terrorism Index 3.59 3.53 3.59 0.65 [+]
Tourist Arrivals 2432630.00 3145532.00 7006165.00 1138895.00 [+]
Weapons Sales 84.00 64.00 473.00 38.00 USD Million [+]

Canada Exports by Category Last Previous
(bop) - Total of All Merchandise 48694.60 49913.30 CAD Million Nov/19
(bop) - Energy Products 8832.60 9493.00 CAD Million Nov/19
(bop) - Motor Vehicles and Parts 7515.00 7686.60 CAD Million Nov/19
(bop) - Crude Oil and Crude Bitumen 6020.00 6885.30 CAD Million Nov/19
(bop) - Consumer Goods 5913.00 6212.90 CAD Million Nov/19
(bop) - Intermediate Metal Products 5201.60 4665.00 CAD Million Nov/19
(bop) - Passenger Cars and Light Trucks 4909.70 5474.20 CAD Million Nov/19
(bop) - Farm and Fishing Products 2591.30 2302.10 CAD Million Nov/19
(bop) - Building and Packaging Materia 2237.30 2322.00 CAD Million Nov/19
(bop) - Aircraft 1093.50 1087.20 CAD Million Nov/19
(bop) - Plastic and Rubber Products 1084.90 1172.50 CAD Million Nov/19
(bop) - Refined Petroleum Energy Produ 1052.50 1043.30 CAD Million Nov/19
(bop) - Pulp and Paper Stock 951.10 1021.40 CAD Million Nov/19
(bop) - Natural Gas 857.40 536.80 CAD Million Nov/19
(bop) - Meat Products 749.80 733.90 CAD Million Nov/19
(bop) - Metal Ores and Concentrates 740.90 1070.70 CAD Million Nov/19
(bop) - Electronic and Electrical Parts 622.20 650.70 CAD Million Nov/19
(bop) - Non-metallic Minerals 607.00 526.10 CAD Million Nov/19
(bop) - Furniture and Fixtures 602.90 597.20 CAD Million Nov/19
(bop) - Plastic Resins 541.00 618.40 CAD Million Nov/19

United Nations Comtrade Database
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