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September 02, 2021NOVA SCOTIA - INTERNATIONAL MERCHANDISE TRADE JULY 2021 With July 2021 reference month results, year-over-year (July 2021 vs July 2020) and year-to-date (Jan-Jul 21 vs Jan-Jul 20) may show rebounds in economic activity from the unprecedented declines observed at the start of the COVID-19 pandemic.
TREND NOVA SCOTIA AND CANADA (Year over year, customs-basis, unadjusted)
Nova Scotia international merchandise exports were $573.3 million in July 2021, an increase of 18.5% compared to July 2020. Nova Scotia export shipments were 6.5% above pre-pandemic levels July 2019 ($538.3 million). Canada merchandise exports increased 20.4% compared to July 2020.
Year-over-year (July 2021 vs. July 2020)
International merchandise exports were higher in all provinces in July 2021 except Ontario (-3.5%). The largest increases were in Alberta (+65.8%), Newfoundland and Labrador (+55.9%) and New Brunswick (+45.7%).
Year-to-Date (Jan-July 2021 vs Jan-July 2020, customs-basis, unadjusted)
Over the first seven months of 2021, Nova Scotia exports have totalled $3,642.8 million, an increase of 24.3% compared to the first seven months of 2020. Year-to-date exports from Nova Scotia were 0.4% below the pre-pandemic 2019 level which had reached $3,657.3 million in the first seven months of that year.
On a year-to-date comparison, New Brunswick (+49.6%) had the largest increase, followed by Alberta, Newfounland and Labrador, and British Columbia. Prince Edward Island (+4.3%) had the smallest increase.
Nova Scotia Year-to-Date by Sector (Jan-Jul 2021 vs Jan-Jul 2020, customs-basis, unadjusted)
The largest dollar increase in year-to-date exports has been in motor vehicle and parts (+$207.1 million, 35.9%) fishing and intermediate food products (+$168.5 million, +25.9%). Most sectors have had higher year-to-date shipments in 2021 than 2020. Year-to-date exports are notably lower in chemical, plastic and rubber products (-$22.8 million, -15.8%) with smaller declines in energy and special transactions.
Nova Scotia Year-to-Date by Country (Jan-Jul 2021 vs Jan-Jul 2020, customs-basis, unadjusted)
For Jan-Jul 2021 compared to Jan-Jul 2020, Nova Scotia exports to the United States have increased 23.0% or $444.2 million. Exports to China are up 7.5% or $29.9 million.
Exports to large economies in Asia (Japan, South Korea, Hong Kong, Taiwan, Singapore) are up 40.7% (+$57.9 million) and have risen to the largest Euro Area countries (Germany, Italy, France, Netherlands, Belgium, Spain) by 33.5% (+$58.9 million). Exports to Mexico (+37.3%), United Kingdom (+47.6%), and other countries (+43.2%) are recovering after lower shipments in 2020.
Statistics Canada. Table 12-10-0119-01 International merchandise trade by province, commodity, and Principal Trading Partners (x 1,000)
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