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Tuesday, August 16, 2005 Study: Canada-China merchandise trade reconciliation2002 and 2003The article "Merchandise trade reconciliation study: Canada-China, 2002 and 2003," in the current issue of Canadian Trade Review, examines major differences in trade data that became apparent during a merchandise trade reconciliation study between Canada and the People's Republic of China covering 2002 and 2003. The study analyzes reasons for the differences in the trade data, and calculates estimates to better reflect the actual trade occurring between the two countries. Overall, indirect trade was the primary cause of the differences. China became Canada's second largest trading partner in 2003, surpassing Japan. Two-way trade between Canada and China increased almost five-fold in the last decade, from $4.8 billion in 1993 to $23.3 billion in 2003. (All currency is in Canadian dollars.) Canada's recorded merchandise trade deficit with China has increased almost eight-fold since 1993, reaching $13.8 billion in 2003. Trade statistics produced by one country will frequently differ from those produced by its trading partner(s). In theory, for example, Canada's recorded exports to China should equal China's reported imports with Canada and vice versa. However, this is not the case. The discrepancies between Canadian and Chinese published statistics are significant. For example, in 2002, reported Chinese import trade exceeded Canada's reported exports by $1.6 billion. The following year, the gap was $1.4 billion. Similarly, in 2002, Canadian-reported imports exceeded China's reported exports by $9.2 billion. In 2003, the gap was $10.7 billion. Definitions, data sources and methods: survey number 2201. The article "Merchandise trade reconciliation study: Canada-China, 2002 and 2003" (65-507-MIE2005003) is now available free online in the publication Canadian Trade Review (65-507-MIE). Click on the Our Products and Services page, under Browse our Internet publications; choose Free, and then Trade. For more information, or to enquire about the concepts, methods or data quality of this release, contact Alan Torrance (613-951-4805; alan.torrance@statacan.ca), International Trade Division. |
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