Crude petroleum and consumer goods business boost import business

Energy product imports soared 16.5% to $2.5 billion in October, the latest Statistics Canada report shows.

Imports of crude petroleum surged 13.2% to $1.7 billion, a record high, with volume and price levels each rising by about 6.5%. Other energy product imports, such as natural gas from the Gulf of Mexico, also shot upward (+24.8% to $761 million).

Imports of consumer goods increased 1.7% to $4.1 billion. Increases in imports of televisions, printed matter, pharmaceutical products and miscellaneous consumer goods offset declines in imports of photographic goods, sporting goods and toys, and apparel and footwear.

Imports of industrial goods and materials increased 0.3% in October, slightly eclipsing September’s high of $6.4 billion, on the strength of chemicals and plastics and metals and metal ores.

Agricultural and fishing product imports increased by $28.2 million, with record highs for fruit and vegetable imports, as well as cocoa and coffee imports.

Imports of automotive products declined 4.4% to $6.3 billion. Within this product group, passenger auto and chassis imports fell 11.9% to $1.7 billion while truck and other motor vehicle imports decreased 11.3% to $1.1 billion.

Imports of motor vehicle parts for new car production and repairs managed a small increase of 2.5% to $3.5 billion.

Imports of machinery and equipment declined 0.3%. All industrial and agricultural machinery imports declined, including a substantial decrease in excavating machinery. At the same time, increases in imports of aircraft and other transportation equipment ensured that the import levels for the product group remained fairly stable. Aircraft and other transportation equipment imports increased 7.7% to $1.1 billion.