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Canadian international merchandise trade

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January 2010 (Previous release)

Canada's merchandise exports grew 0.5% in January, a slower pace than in the previous four months, while imports declined 1.7%. As a result, Canada posted a trade surplus with the world of $799 million in January compared with a surplus of $75 million in December.

Exports increased to $33.0 billion from $32.9 billion in December, as prices increased 0.8% while volumes fell 0.3%.

Although exports have been increasing for five consecutive months, the pace of growth slowed in January as declines in automotive products and machinery and equipment nearly offset gains in industrial goods and materials, and other consumer goods.

Exports and imports

Following two months of increases, imports declined to $32.2 billion from $32.8 billion in December as a result of a 1.2% decline in volumes and a 0.6% decrease in prices. Machinery and equipment, other consumer goods and energy products led the downward movement in overall imports.

Exports to the United States decreased 0.6% and imports declined 0.5%, largely as a result of lower trade of automotive products, which led the growth in December. As a result, Canada's trade surplus with the United States was $4.1 billion in January, almost unchanged from $4.2 billion in December.

Note to readers

Merchandise trade is one component of Canada's international balance of payments, which also includes trade in services, investment income, current transfers as well as capital and financial flows.

International merchandise trade data by country are available on both a balance of payments and a customs basis for the United States, Japan and the United Kingdom. Trade data for all other individual countries are available on a customs basis only. Balance of payments data are derived from customs data by making adjustments for characteristics such as valuation, coverage, timing and residency. These adjustments are made to conform to the concepts and definitions of the Canadian System of National Accounts.

Data in this release are on a balance of payments basis, seasonally adjusted in current dollars. Constant dollars are calculated using the Laspeyres volume formula.

Revisions

In general, merchandise trade data are revised on an ongoing basis for each month of the current year. Current year revisions are reflected in both the customs and balance of payments based data. Revisions to customs based data for the previous year are released on a quarterly basis. Revisions to balance of payments based data for the three previous years are released annually in June.

Factors influencing revisions include late receipt of import and export documentation, incorrect information on customs forms, replacement of estimates with actual figures, changes in classification of merchandise based on more current information, and changes to seasonal adjustment factors.

Revised data are available in the appropriate CANSIM tables.

Exports to countries other than the United States grew 3.8%. Exports to member countries of the Organisation for Economic Cooperation and Development and to Japan were the main factors behind the gain. In contrast, imports from countries other than the United States decreased 3.9%, led by falling imports from the European Union. Consequently, Canada's trade deficit with these countries narrowed to $3.3 billion in January from $4.1 billion in December.

Trade balance

Modest growth in exports

Exports of industrial goods and materials increased 4.8% to $7.3 billion, halting two consecutive months of decline. Higher export volumes of metals and alloys followed by chemicals, plastics and fertilizers were the main contributors to the gain.

Metals and alloys grew 8.4% on the strength of precious metals, primarily gold, as well as aluminum and alloys. Also contributing to the growth, chemicals, plastics and fertilizers increased 8.9% largely due to higher exports of fertilizers, and synthetic rubber and plastics. In contrast, exports of metal ores, particularly iron ores and copper ores, declined 17.9% as volumes fell 25.6%.

Exports of other consumer goods increased 9.0% to $1.5 billion, partially offsetting the decline posted in December. This sector includes items such as apparel, footwear, toys, medicinal and pharmaceutical products. The January increase was the largest percentage gain in this sector since December 2008.

Automotive products exports fell 4.1% to $4.3 billion as volumes declined 4.0%. Exports of passenger autos were down 8.9% as some auto manufacturers extended plant shutdowns well into January. Exports of motor vehicle parts, up 6.9%, moderated the decrease.

Machinery and equipment exports fell 1.5% to $6.1 billion, as a result of lower exports of aircraft and other transportation equipment. Excluding aircraft and other transportation equipment, exports of machinery and equipment would have grown 1.5%. In contrast, exports of telecommunication equipment increased after declining for two consecutive months.

Widespread declines in imports

Imports of machinery and equipment decreased 2.4% to $8.4 billion. Office machines, down 6.3%, led the decline followed by aircraft, excavating machinery and other industrial machinery. Meanwhile, other communication and related equipment increased 4.1%, mitigating the drop in the sector. The sector has posted declines in five out of the previous six months.

Other consumer goods imports fell 4.0% to $4.7 billion largely as a result of a 3.4% decline in volumes. Widespread decreases throughout the sector were led by miscellaneous end products, such as medicinal and pharmaceutical products.

Following three months of growth, imports of energy products decreased 5.6% to $3.3 billion. The decline was the result of volumes falling 4.9%. Imports of crude petroleum were down 16.2% as volumes fell 21.2%, following a strong gain in December. Prices of crude petroleum, on an upward trend since January 2009, increased 6.2%. Meanwhile, imports of other energy products grew 17.8%, reflecting higher volumes of natural gas.

Available on CANSIM: tables 228-0001 to 228-0003, 228-0033, 228-0034, 228-0041 to 228-0043 and 228-0047 to 228-0057.

Definitions, data sources and methods: survey numbers, including related surveys, 2201, 2202 and 2203.

These data are available in the January 2010 Canadian International Merchandise Trade Database, (updated) Vol. 64, no. 1 (65F0013X, free). From the Key resource module of our website choose Publications.

The January 2010 issue of Canadian International Merchandise Trade, Vol. 64, no. 1 (65-001-X, free), is now available from the Key resource module of our website under Publications.

Current account data (which incorporate merchandise trade statistics, service transactions, investment income and transfers) are available quarterly in Canada's Balance of International Payments (67-001-X, free).

Data on Canadian International Merchandise Trade for February will be released on April 13.

The Canadian International Merchandise Trade annual review for 2009 will be released on April 6.

For more information contact Sharon Nevins (toll-free 1-800-294-5583; 613-951-9798; trade@statcan.gc.ca). To enquire about the concepts, methods or data quality of this release, contact Mychèle Gagnon (613-951-0994), International Trade Division.

Table 1

Merchandise trade
  January 2009r December 2009r January 2010 December 2009 to January 2010 January 2009 to January 2010
  Seasonally adjusted, $ current
  $ millions % change
Principal trading partners          
Exports          
United States 22,822 24,833 24,678 -0.6 8.1
Japan 854 675 792 17.3 -7.3
European Union1 2,842 2,711 2,726 0.6 -4.1
Other OECD countries2 1,248 1,327 1,467 10.6 17.5
All other countries 3,285 3,319 3,356 1.1 2.2
Total 31,051 32,865 33,018 0.5 6.3
Imports          
United States 19,818 20,634 20,540 -0.5 3.6
Japan 1,081 787 731 -7.1 -32.4
European Union1 3,419 3,524 3,022 -14.2 -11.6
Other OECD countries2 2,151 2,458 2,393 -2.6 11.3
All other countries 5,691 5,387 5,533 2.7 -2.8
Total 32,160 32,790 32,219 -1.7 0.2
Balance          
United States 3,004 4,199 4,138 ... ...
Japan -227 -112 61 ... ...
European Union1 -577 -813 -296 ... ...
Other OECD countries2 -903 -1,131 -926 ... ...
All other countries -2,406 -2,068 -2,177 ... ...
Total -1,109 75 799 ... ...
Principal commodity groupings          
Exports          
Agricultural and fishing products 3,311 2,878 2,959 2.8 -10.6
Energy products 6,435 8,466 8,519 0.6 32.4
Forestry products 1,745 1,628 1,636 0.5 -6.2
Industrial goods and materials 6,607 6,978 7,310 4.8 10.6
Machinery and equipment 7,515 6,181 6,087 -1.5 -19.0
Automotive products 2,764 4,470 4,286 -4.1 55.1
Other consumer goods 1,565 1,334 1,454 9.0 -7.1
Special transactions trade3 627 507 318 -37.3 -49.3
Other balance of payments adjustments 482 423 450 6.4 -6.6
Imports          
Agricultural and fishing products 2,564 2,393 2,360 -1.4 -8.0
Energy products 2,840 3,449 3,257 -5.6 14.7
Forestry products 218 199 204 2.5 -6.4
Industrial goods and materials 6,696 6,389 6,384 -0.1 -4.7
Machinery and equipment 9,765 8,595 8,387 -2.4 -14.1
Automotive products 3,872 5,795 5,779 -0.3 49.3
Other consumer goods 5,025 4,865 4,671 -4.0 -7.0
Special transactions trade3 494 402 422 5.0 -14.6
Other balance of payments adjustments 687 703 756 7.5 10.0
revised
not applicable
The European Union includes Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and United Kingdom.
Other countries in the Organisation for Economic Co-operation and Development (OECD) include Australia, Canada, Iceland, Mexico, New Zealand, Norway, South Korea, Switzerland and Turkey.
These are mainly low valued transactions, value of repairs to equipment, and goods returned to country of origin.
Note(s):
Totals may not equal the sum of their components.