Exports from Canada dropped 2.9 percent month-over-month to CAD 48.3 billion in November of 2018, the fourth consecutive monthly decline. Shipments of energy products fell 9.2 percent to CAD 8.4 billion, following a 6.7 percent drop in October, led by crude oil exports (-17.7 percent). Lower sales of crude oil were partially offset by higher exports of coal to South Korea, China and Viet Nam. Additionally, sales of basic and industrial chemical, plastic and rubber products decreased 7.5 percent, with exports of lubricants and other petroleum refinery products down 26.4 percent, mostly on lower exports of motor gasoline blending stock to the northeastern United States. Also, exports of forestry products and building and packaging materials were down 5.7 percent, due to lower exports of pulp and paper (-10.1 percent). Exports in Canada averaged 21960.94 CAD Million from 1971 until 2018, reaching an all time high of 51023.40 CAD Million in July of 2018 and a record low of 1366 CAD Million in February of 1971.
Exports in Canada is expected to be 50500.00 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 49500.00 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.