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The Daily. Tuesday, November 21, 2000

Canadian international merchandise trade

Canada's exports remained virtually stable in September, as a decline in exports of automotive products nearly offset a strong increase in exports of energy products.

Canadian companies exported $34.9 billion worth of goods in September, up a marginal 0.1% from August. Energy exports were up 6.5% - much of this gain was the result of higher prices - while exports of automotive products declined 2.6%.

However, a 5.3% decline in automotive products imports pushed the total level of imports down 0.7% to $30.6 billion.

As a result, Canada's merchandise trade surplus with the world was $4.3 billion in September,  $236 million higher than in August.

The cumulative trade balance with all countries for the first nine months of 2000 was a surplus of $37.3 billion, up $12.2 billion from the same period in 1999.

The large increase in the trade surplus was a result of higher prices for energy products such as crude petroleum, natural gas and electricity, which pushed up export prices, and lower prices for high technology equipment and computers, which pushed down import prices.

Note to readers Merchandise trade is one component of the current account of Canada's balance of payments, which also includes trade in services.

Higher prices for petroleum products and natural gas sustained export growth

Higher prices for petroleum products and natural gas pushed up energy exports in September; natural gas exports rose 16.3% to $1.6 billion. Canada exported a record $797 million in petroleum products, 18.2% more than in August. Cooler temperatures in the United States in late September drove down electricity exports by 20.2% to $349 million.

Forest products exports rose 2.2% in September to $3.4 billion. Lumber exports recovered after five months of losses, increasing 7.8%. Wood pulp exports were also up in September by 3.1% over August.

However, exports of motor vehicle products dropped 2.6% to $7.8 billion in September, following declines in exports of 3.8% for passenger vehicles and chassis and 3.0% for parts. Truck exports saw a slight increase of 1.2%. However, Canadian exports of motor vehicle products in the first nine months of 2000 reached $72.4 billion, an increase of $1.3 billion over the same period of 1999.

The machinery and equipment sector fell 0.6%. Exports of airplanes were down 6.1%, and exports of other transportation equipment dropped 7.6%. These declines were partly offset by increases of 4.2% for telecommunications equipment and 0.7% for other equipment and tools.

Drop in motor vehicle products brought imports down

Imports declined 0.7% in September, driven by lower imports of motor vehicle products, which were off 5.3% to $6.3 billion after reaching a record high in August. Imports of trucks, mostly light trucks, were the main contributors to the decline in the sector, decreasing 21.7% to $755 million. Imports declined 4.8% for passenger vehicles and chassis and 1.5% for engines and parts.

Canadian manufacturers continued to import telecommunications equipment, such as equipment for wireless telephony, printed circuits and parts. These imports are included in the category of other machinery and equipment, which rose 2.2% to a record level of $5.1 billion in September. Also up were imports of ships and of airplane engines and parts. However, imports of computers and parts fell 5.7% in September after reaching a record $1.8 billion in August. For the first nine months of 2000, the value of computer imports was up $1.7 billion over the same period in 1999.

Prices for crude petroleum and refined petroleum products pushed energy imports up 2.2% to a record $1.6 billion in September. Imports of crude petroleum rose 0.2% to $1.3 billion. Imports of refined products, such as kerosene and power plant fuel, rose 24.1% to $265 million.

Revisions

Merchandise trade data are generally regularly revised for each month of the current year. Factors influencing revisions include late receipt of import and export documentation, incorrect information on customs forms, replacement of estimates with actual figures (once available), changes in classification of merchandise based on more current information, and seasonal adjustments. Consult the appropriate CANSIM matrices for revised data.

Available on CANSIM: matrices 3618, 3619, 3651, 3685-3713, 3720, 3887-3913, 8430-8435 and 8438-8447.

This release contains a summary of the merchandise trade data to be published shortly in Canadian international merchandise trade (65-001-XIB, $14/$141; 65-001-XPB, $19/$188). The publication will include tables by commodity and country on a customs basis. 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-XIB, $29/$93; 67-001-XPB, $38/$124). See How to order products.

Merchandise trade data are available by fax on the morning of release.

For more information, or to enquire about the concepts, methods or data quality of this release, contact Jocelyne Elibani, (1-800-294-5583; 613-951-9647), International Trade Division.

Merchandise trade