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INDUSTRY PULSE: Demand for machinery and equipment imports resumes

OTTAWA, Ont. -- Gains in five of the seven import sectors led to a record high for imports in October, Statistics C...


OTTAWA, Ont. — Gains in five of the seven import sectors led to a record high for imports in October, Statistics Canada reports.

Leading the jump in imports was the increase in machinery and equipment, which grew by 2.7% to $9.5 billion. Imports of machinery and equipment increased for the first six months of 2005, and then stabilized until October’s upswing.

Investment in aircrafts and their engines and parts and office machines explained the rise in imports of machinery and equipment. Imports of aircraft, engines and parts jumped 9.5% to $901.0 million, its third consecutive gain. Meanwhile, imports of office machines and equipment climbed 7.5% to $1.4 billion following two months of decline.

Imports of automotive products also increased as a result of a 4.6% gain in motor vehicle parts.
Increased imports of alcoholic beverages, meat and meat products, and fish and fish products, contributed to the 1.3% rise in imports of agricultural products. Imports of industrial goods and materials and forestry products also edged up in October.

Energy imports fell slightly (-0.8%) as a decline in other energy products offset an increase in crude petroleum.

Following a surge in imports of consumer goods in September, Canadian companies relaxed their orders in October, resulting in imports falling 2.2% to $4.1 billion.


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