(Statistics Canada)
April 2005
Merchandise exports inched up in April as record high levels of meat and meat preparations and solid gains in aircraft and telecommunications equipment offset declines
in energy and automotive products.
Canadian companies exported $36.4 billion worth of merchandise, up 0.3 per cent. At the same time, they imported merchandise worth $31.3 billion, a 0.5 per cent
decline.
As a result, the overall trade surplus widened to $5.1 billion from a revised $4.8 billion in March. The change to the March trade balance was the result of a 1.4 per cent revision ($509.2
million) in exports.
The decline in imports was led by metals and metal ores and energy products, as well as by lower imports of consumer products. These declines were partially offset by rising
imports of motor vehicle parts and aircraft, engines and parts.
Exports to the United States edged down 0.4 per cent, while imports from south of the border rose 0.2 per cent. As a result, the trade
surplus with the United States narrowed to $8.2 billion.
Exports to the rest of the world were up 3.2 per cent in April while imports fell 1.9 per cent. Canada's deficit with countries outside the
United States narrowed from $3.5 billion to $3.1 billion. Exports:
Meat and Meat Preparations Hit Record High
Exports of meat and meat preparations were up 4.0 per cent in April to a record high $463.4 million. Shipments of meat have been on the rise this year, surging in three
of the four months. Canada's meat processing industry has expanded substantially in the face of an export ban on live cattle imposed by the United States.
Exports in the machinery and equipment sector
also showed strength, rising 3.6 per cent to $8.2 billion as aircraft and telecommunications firms filled a number of contracts.
Telecommunications exports reached $1.2 billion in April, their highest
level since June 2001. Exports of telecommunication and related equipment peaked in December 2000 at $2.4 billion. Natural gas exports, which drove the gain in energy products in March, declined 4.8 per cent
to $2.5 billion. This led to an overall 1.7 per cent decline in exports of total energy products. Exports of passenger autos and chassis fell 5.8 per cent to $3.2 billion, their fourth consecutive decline.
Trucks and other motor vehicles, up 8.4 per cent to $1.3 billion in April, remain in high demand as trade with Asia continues to expand.
After a strong January and February, exports of forestry
products have weakened, falling 0.7 per cent in March and 1.0 per cent in April. Lumber and sawmill products accounted for these declines.
Exports of other industrial goods and materials remained
stable, with declines in metals and alloys and other industrial goods and materials offsetting gains in chemicals, plastics and fertilizers and metal ores. Imports:
Machinery and Equipment Sector Stabilizes After Four Months
of Gains Imports of machinery and equipment remained stable at $9.0 billion in April, halting four consecutive months of gains. Growth during this period was driven by increases
in industrial and agricultural machinery and in aircraft and other transportation.
While industrial and agricultural machinery imports slowed in April, imports of aircraft and other transportation
accelerated. Imports of office machines and equipment also increased (+3.2 per cent).
Imports of automobile parts jumped 8.4 per cent to $3.2 billion in April, a partial recovery after declining 11.4
per cent over the first three months of 2005.
Imports of agricultural and fishing products rose 2.4 per cent to $1.8 billion, which was less than $100 million below the record high set in August 2002.
Leading the increase were imports of sugar and sugar preparations (+28.5 per cent) and fresh fruits and berries (+6.9 per cent).
Imports of industrial goods and materials fell 3.7 per cent. Metal and
metal ore imports were the main contributor to the drop, down to $2.0 billion from a record high of $2.4 billion in March.
Imports of energy products, which include crude petroleum and other energy
products, dropped 8.1 per cent to $2.3 billion. Each component fell by about $100 million.
Imports of consumer products decreased 3.3 per cent to $4.0 billion, with pharmaceutical imports leading the
decline after a strong March. After hitting a record high of $660.7 million in February, apparel imports fell 2.8 per cent in April, following a 0.2 per cent decline in March. |
