Monthly Merchandise Trade Report
Monthly Report on Canada's International Merchandise Trade Performance, August 2017
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Exports decreased in August, while imports were unchanged.
- Canada’s merchandise trade deficit totalled $3.4 billion in August, up from a $3.0-billion deficit in July.
- Total exports fell 1.0% to $43.6 billion in August.
- Exports decreased despite increases in 6 of 11 sectors.
- Imports were virtually unchanged in August, at $47.0 billion.
- Widespread declines were offset by gains in a few sectors.
Chart 1: Value of Canada's trade in goods, August 2012 to August 2017
Source: CANSIM Table 228-0059, Merchandise imports and exports, Balance of payments basis, seasonally adjusted.
Canadian Merchandise Exports
Canadian merchandise exports: Following two months of large decreases, exports were down a further 1.0% in August, on lower volumes. Exports have fallen 10.6% since the record high posted in May. Consumer goods, basic and industrial chemical, plastic and rubber products as well as metal ores and non-metallic minerals were responsible for the decline in export values.
For the first eight months of the year, exports were up 8.0%, compared to the same period last year.
Canadian Merchandise Imports
Canadian merchandise imports: After posting the strongest decline since January 2009 in July, total imports were virtually unchanged in August. Notable offsetting movements were observed as gains in motor vehicles and parts (+2.5%) and metal ores and non-metallic minerals (+9.9%), were counterbalanced by losses in consumer goods (-1.8%) and aircraft and other transportation equipment and parts (-10.2%).
For the first eight months of the year, total imports were up 5.5% compared to the same period last year.
- Canada’s trade surplus with the United States narrowed to $2.3 billion in August, from $3.2 billion in July.
- Exports to the United States were down 1.8% to $32.6 billion in August, mainly on fewer exports of unwrought gold.
- Imports from the United States increased 0.9% to $30.3 billion.
|Source: CANSIM Table 228-0069, Merchandise imports and exports, Balance of payments basis, seasonally adjusted, current dollars.|
Countries other than United States:
- Canada’s trade deficit with countries other than the U.S. narrowed from $6.2 billion in July, to $5.7 billion in August.
- Exports to non-U.S. countries advanced 1.5% to $11.0 billion.
- Higher exports to the United Kingdom (unwrought gold) and Japan (coal and canola) were partially offset by lower exports to China (canola) and India (uranium).
- Imports from countries other than United States were down 1.6% to $16.7 billion.
- Lower imports from China (cellphones), Saudi Arabia (crude oil) and Norway (ships) were partially counterbalanced by higher imports from Mexico (motor vehicles and parts).
In August, exports contracted 1.0% to $43.6 billion, despite increases in 6 of 11 sectors. Export volumes were down 1.9% while export prices increased 1.0%.
- Exports of consumer goods were down 3.8% to $5.7 billion, the third consecutive monthly decline.
- Exports of pharmaceutical and medicinal products led the decrease (-8.6%) mainly on lower exports to Italy.
- Exports of prepared and packaged seafood products also contributed to the decline (-10.5%), following the close of the Snow Crab fishing season at the end of July.
- Exports of basic and industrial chemical, plastic and rubber products declines 5.9% to $2.7 billion.
- Exports of basic chemicals led the decline, falling 8.3%.
- Exports of metal ores and non-metallic minerals also contributed to the decrease, down 9.7% to $1.5 billion.
- Fewer exports of radioactive ores and concentrates (-75.3%) owing to shutdowns at uranium refining facilities in August.
In August, imports were virtually unchanged at $47.0 billion, and declines were observed in 7 of 11 sectors. Import volumes were up 0.2%, while import prices posted a 0.2% loss.
- Imports of motor vehicles and parts increased 2.5% to $9.3 billion.
- Following a 17.0% decrease over June and July, imports of motor vehicle engines and motor vehicles parts were up 5.3% in August.
- Imports of metal ores and non-metallic mineral increased 9.9% to $1.2 billion, on higher volumes.
- Imports of consumer goods fell 1.8% to $10.1 billion, the fourth consecutive monthly decrease.HERE
- Clothing, footwear and accessories (-5.9%) led the decline, mostly on lower clothing imports from Bangladesh.
|Industrial Machinery & Equipment||2,852||2.7%||4,531||12.1%|
|Electronic./Electric. Machin. & Equip.||2,325||1.4%||5,334||1.9%|
|Aircrafts/Other Transportation Equip.||1,854||4.1%||1,387||4.2%|
Source: CANSIM 228-0059, North American Product Classification System 2007 – seasonally adjusted. Totals don’t add up as “Special transactions trade” and “Other balance of payments adjustments” are not included.
- Date Modified: