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March 06, 2019NOVA SCOTIA - INTERNATIONAL MERCHANDISE TRADE DECEMBER AND ANNUAL 2018 ANNUAL (2008 to 2018, customs-based, unadjusted)
In 2018, Nova Scotia International Merchandise Trade Exports increased 7.0% ($374.5 million) over 2017, to $5.7 billion.
ANNUAL - By Sector
In 2018, Nova Scotia exports reached a new high surpassing the a high in 2008 and all time high in 2001 when the exports of energy products were a significant contributor to total exports. Since 2008, energy exports have declined to near zero levels, but other commodities have increased to fill the gap.
Comparing Nova Scotia's exports for Jan-Dec 2018 with the same period last year, the largest dollar value increases were in Forestry/Building/Packaging Materials ($137.7 million), Farm, Fishing & Inter. Food ($49.2 million), and Chemical, plastic, rubber ($46.7 million). Energy products increased 146% but now makes up a relatively small dollar value portion of Nova Scotia's total exports.
On an annual basis, export values increased in
- Energy by 146.0% ($30.1 million)
- Metal/Ores by 41.9% ($20.5 million)
- Forestry/Building/Packaging Materials by 19.6% ($137.7 million)
- Chemical, plastic, rubber by 16.8% ($46.7 million)
- Metal/Mineral Products by 11.5% ($23.1 million)
- Electronics by 9.3% ($13.8 million)
- Farm, Fishing & Inter. Food by 4.6% ($49.2 million)
- Motor vehicles/Parts by 3.2% ($40.2 million)
In 2018,
- Consumer Goods led the way with a value of $1,417.9 million (25 % share), followed by
- Motor vehicles/Parts with a value of $1,281.9 million (22 % share),
- Farm, Fishing & Inter. Food with a value of $1,111.1 million (19 % share),
- Forestry/Building/Packaging Materials with a value of $841.2 million (15 % share),
- Chemical, plastic, rubber with a value of $323.9 million (6 % share),
- Metal/Mineral Products with a value of $224.4 million (4 % share),
- Electronics with a value of $162.6 million (3 % share),
- Machinery/Equipment with a value of $131.7 million (2 % share),
- Metal/Ores with a value of $69.5 million (1 % share),
- Transportation Equipment with a value of $54.1 million (1 % share),
- Special Transactions with a value of $53.9 million (1 % share), and,
- Energy with a value of $50.7 million (1 % share).
Annual by Province
In 2018, Newfoundland and Labrador reported the highest increase (28.1%) in merchandise trade exports over 2017. Nova Scotia reported a 7.0% gain in merchandise trade exports over 2017. Canada reported a 7.2% gain in merchandise trade exports .
Excluding energy exports, Alberta reported the highest increase (11.8%) in Non-energy exports over 2017. Nova Scotia reported a 6.5% gain in Non-energy exports. Canada reported a 4.7% gain in Non-energy exports.
ANNUAL EXPORTS BY INTERNATIONAL DESTINATION
Nova Scotia’s trade continues to diversity.
Although exports to the United States grew by 4.0 per cent or +$139.3 million (2018 vs 2017), the United States share of Nova Scotia domestic exports declined 2 points to 63% over the same period last year. This is slower than the overall pace of export growth, indicating that the province’s exports are growing more rapidly in other jurisdictions.
Nova Scotia’s exports to China are up by 31.5 per cent or +$189.5 million in the same period. Exports to other markets in Asia are down after sharp increases last year, including: Japan (-$15.5 million), South Korea (-$2.5 million) and notably Hong Kong (-$41.7 million).
Nova Scotia’s exports are up in Mexico (+$0.862 million), the Netherlands (+$50 million), Australia (+$10 million), Spain (+$12 million), Turkey (+$7 million), and Iraq (+$5 million). There was a decline in annual exports to Indonesia (-$6 million), India (-$4 million), France (-$5 million), and the United Kingdom (-$1 million).
Statistics Canada.
12-10-0119-01 International merchandise trade by province and commodity
12-10-0119-01 International merchandise trade by province and energy commodity
12-10-0119-01 International merchandise trade Nova Scotia sectors
12-10-0119-01 International merchandise trade by province, commodity, and Principal Trading Partners (x 1,000)12-10-0099-01
All Tables: Monthly, quarterly, annually
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