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March 29, 2017NOVA SCOTIA GOODS EXPORTS TO CHINA MARKETS – CHINA MARKET COMPARED WITH NS GLOBAL TRADE
In 2016 Nova Scotia produced and exported $5.2 billion worth of goods to the international market. The United States was the destination of the largest proportion of Nova Scotia’s global exports (68.95% share, $3.6 billion). China was the number two destination at a 9.4% share ($491 million), Asia (excluding the Middle East and China) was the number three destination (8.82% share, $461 million) and Europe was the 4th largest geographic market at an 8.58% share ($448 million). The balance of Nova Scotia's export trade (4.26%) was distributed among Central/South America, the Caribbean, Africa, the Middle East and Oceania countries.
In 2016 Nova Scotia produced and exported $490.9 million worth of goods to China. This market represents 9.4% of Nova Scotia’s export trade. Over the period 2012-2016 China received about 6.4% of Nova Scotia’s exports on average.
TRENDS - 5 YEAR AVERAGES OF NOVA SCOTIA EXPORTS TO CHINA
Trade with China has had its ups and downs over the last ten years. Overall, the trend appears as a slow year-over-year increase early in the period followed by multi year-over-year strong increases to a period high in 2016.
The global decline in trade in 2008-2010 is evidenced by the decline in exports to China during this period. Trade had recovered from the global downturn to levels greater than the previous high in 2006. Trade has, in fact, increased almost 5-fold, from $87.5 million in 2006 to $490.9 million in 2016.
PRODUCTS – LEADING NOVA SCOTIA EXPORTS TO CHINA
Nova Scotia companies produced and shipped $490.9 million worth of goods to China in 2016 as compared to the $114 million posted five years earlier in 2011. Since 2011, the value of exports has increased 331%.
Seafood exports have been the consistent number one product since 1997 and number two between 1991 to 1996. Exports to China have increased from $149,347 in 1991 to $254 million in 2016. Seafood's share of total exports to China has ranged from 24% in 2008 to 85% in 2001.
Wood pulp is the current number two commodity valued at $180.8 million (37% of total exports to China). The commodity has ranked #2 for the last four years.
Copper, Lead, Aluminum, Iron and Steel products have consistently ranked high in shipments to China. In 2016 these commodities totaled $36 million (7% share); in 2015 $31 million (7% share); in 2014 $28 million (10% share); and in 2013 $27 million (14% share). In 2011, Copper was the number 2 commodity at 24% ($27 million, followed by Aluminum at 8% ($9 million) and Iron and Steel at 6% ($7 million).
TOP 25 Goods Exported to China
Industry Canada's Strategis and STC Trade Database