Exports and imports rose in December

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OTTAWA, ON – Canada recorded a trade surplus for the second consecutive month in December, with exports up 0.8% on the strength of higher energy products, and imports up 1%, largely on increases in aircraft and industrial machinery, Statistics Canada reports.

But in terms of volumes, exports were down 1.4% because of drops in metal ores, non-metallic minerals, motor vehicles and parts. Import volumes were up 0.4%, based largely on industrial machinery, equipment and parts.

About $8.5 billion in energy products led the way in exports, reaching the highest value since November 2014, although much of that moves by pipeline. Exports of motor vehicles and parts, metal ores and non-metallic minerals, and metal and non-metallic mineral products were down. Exclude the energy products and exports were down 2.1% for the month, statisticians found.

Exports of motor vehicles and parts were down 5.2% to $7.4 billion in December, hitting their lowest levels since June 2015. “Widespread declines in the section were led by passenger cars and light trucks, down 6.2% to $4.8 billion. A higher proportion of Canadian produced motor vehicles was destined for the domestic market in December. For the section as a whole, volumes were down 3.9% and prices decreased 1.4%,” Statistics Canada says.

Imports of industrial machinery, equipment and parts rose 6.4% to $4.3 billion in December, with all commodity groupings recording gains.

How far Canada has come. In a historic side note, Statistics Canada reported total merchandise exports were worth $49.7 million in 1868, and reached $521 billion last year. Imports were valued at $72 million in 1868, leading to a $22.2-million trade deficit – a condition that would remain for 12 years.

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John G. Smith is Newcom Media's vice-president - editorial, and the editorial director of its trucking publications -- including Today's Trucking, trucknews.com, and Transport Routier. The award-winning journalist has covered the trucking industry since 1995.


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