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Exports increase for the first time since July

OTTAWA, Ont. -- All sectors but other consumer products recorded growth in exports in November, according to Statis...

OTTAWA, Ont. — All sectors but other consumer products recorded growth in exports in November, according to Statistics Canada records, with energy products and industrial goods and materials accounting for the largest share of the increase.

Energy products soared 5.4% to $7.8 billion, as crude petroleum exports jumped 13.1%, reaching a record high of $4.1 billion. Other energy products gained 16.4%, as exports of petroleum and coal products increased 15.5%. Both crude petroleum and petroleum and coal products registered increases in volumes and prices, with prices being more dominant. Natural gas fell for the sixth straight month, plunging 17.0% to its lowest level since November 2003, reflecting lower prices as volumes increased.

Exports of industrial goods and materials grew 4.8% to $8.5 billion, partially reversing three consecutive months of decline. The bulk of the advance stemmed from strong increases for metal ores (+9.8%) and chemicals, plastics and fertilizers (+8.1%). For metal ores, exports of nickel, copper and zinc were particularly robust as strong Asian demand continued to be a factor. In contrast, nickel and alloys declined for the fifth time since peaking in June.

Machinery and equipment rose 3.3% to $7.8 billion, propelled by an 11.4% increase in aircraft, engines and parts. Industrial machinery contributed to the gain as well, while television, telecommunications and related equipment declined for the fourth straight month.
Automotive products climbed 1.5% to $6.3 billion, largely driven by motor vehicle parts, which grew 6.9%, following three consecutive declines. Passenger autos fell 1.1% to $3.4 billion, while trucks and other motor vehicles edged up 0.4%, ending a string of seven monthly decreases.

Exports of agricultural and fishing products experienced widespread increases across most of the sector, rising 2.4% to $2.8 billion following two months of declines. These gains were offset somewhat by wheat, which plunged 16.6%.

Forestry products increased for the first time since March and only the third time in eleven months, rising 1.2% to $2.2 billion. Exports of forestry products have been generally on the decline since early 2004. Both lumber and wood pulp contributed to the increase with lumber increasing for the first time since June. Newsprint continued its downward trend for the eighth month in a row due to plant closures and cutbacks in production.

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