The automotive sector drives exports

by Canadian Shipper

OTTAWA, Ont. — With a slight decline in the Canadian dollar over the fourth quarter, export growth was up 1.2%, following a 0.9% increase in the third quarter, Statistics Canada records indicate. This was mainly due to growth in exports of goods (+1.2%). Exports of services, up 0.7%, also contributed to growth, though to a lesser extent.

Automotive products (+7.7%) primarily accounted for the increase in exports of goods. This sector has picked up after the third quarter slowdown, related to protracted plant closures.

Other consumer goods and machinery and equipment, up 9.5% and 1.3% respectively, also contributed to export gains in the quarter. The growth in transportation (+3.2%) and travel (+1.2%) services were partly offset by a decline in foreign sales of commercial services (-0.9%).

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