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.