Canadian international trade on rise despite drop in automotive sector

Canada’s exports rose 0.9% to $35.4 billion and imports inched up 0.3% to $30.4 billion in October, Statistics Canada reports.

As a result, Canada’s trade surplus in international merchandise rose by nearly a quarter billion dollars to $5.1 billion.

Canadian companies sent $30.0 billion in goods to the United States in October, a slight decline from September. Imports from south of the border increased only slightly to $21.5 billion. The trade surplus with the United States fell to $8.4 billion.

Canada’s trade deficit with countries other than the United States improved from $3.7 billion in September to $3.3 billion in October.

Canadian plants exported $8.2 billion of automotive products in October, down 6.2% from August, when automotive products were at their highest level of 2002. Exports of trucks fell 3.0% from September to $1.6 billion, in the wake of new US emission standards that came into effect on October 1. US companies had increased their acquisition of trucks, buying before the deadline. This had resulted in trucks and other motor vehicle exports jumping in September to the largest monthly export volume in over two years.

Exports of motor vehicle parts to supply auto assembly plants decreased 2.7% to $2.5 billion.

The 10-day labour dispute at American west coast ports caused shipment delays when the capacity of the Port of Vancouver was stretched with cargo shipments diverted from closed US ports. This also reduced the availability of export vessels for automotive parts. Passenger automobile exports declined for the third month in a row, as US demand continued to soften. In October, passenger automobile exports fell 5.0% to $4.1 billion, a three-month total drop of 17.9%.

Merchandise imports levelled off to $30.4 billion in October. Imports of automotive parts from Japan were affected by the dockworkers labor dispute in the U.S

Automotive product imports fell 3.0% from September’s record levels to $6.9 billion in October. Imports of passenger autos decreased 5.7% to $2.2 billion; much of the decline was found among Asian countries. Motor vehicle parts imports fell 3.3% to $3.7 billion. Imports of trucks and other motor vehicles increased 3.8% to a record level of $1.1 billion.

For more information, contact Daryl Keen (613-951-1810), International Trade Division.