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November 08, 2021NOVA SCOTIA - INTERNATIONAL MERCHANDISE TRADE SEPTEMBER 2021 With September 2021 reference month results, year-over-year (September 2021 vs September 2020) and year-to-date (Jan-Sep 21 vs Jan-Sep 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 $501.3 million in September 2021, an increase of 7.0% compared to September 2020. Nova Scotia export shipments were 6.4% above pre-pandemic levels September 2019 ($471.0 million). Canada merchandise exports increased 14.0% compared to September 2020 and 7.6% compared to September 2019.
Year-over-year (September 2021 vs. September 2020)
International merchandise exports were higher in all provinces, except Ontario (-11.3%) in September 2021. The largest increases were in Alberta (+58.7%) and British Columbia (+34.7%).
Year-to-Date (Jan-Sep 2021 vs Jan-Sep 2020, customs-basis, unadjusted)
Over the first nine months of 2021, Nova Scotia exports have totalled $4,646.1 million, an increase of 19.7% compared to the first nine months of 2020. Year-to-date exports from Nova Scotia were 0.2% (-$9.3 million) below the pre-pandemic 2019 level which had reached $4,655.4 million in the first nine months of that year.
On a year-to-date comparison, New Brunswick (+48.0%) had the largest increase, followed by Alberta, Newfoundland and Labrador, and British Columbia. Ontario (+6.8%) had the smallest increase.
Nova Scotia Year-to-Date by Sector (Jan-Sep 2021 vs Jan-Sep 2020, customs-basis, unadjusted)
The largest dollar increase in year-to-date exports has been in motor vehicle and parts (+$215.0 million, +26.9%), and fishing and intermediate food products (+$189.1 million, +21.8%). Most sectors have had higher year-to-date shipments in 2021 than 2020. Year-to-date exports are lower in chemical, plastic and rubber products (-$10.7 million, -6.1%).
Nova Scotia Year-to-Date by Country (Jan-Sep 2021 vs Jan-Sep 2020, customs-basis, unadjusted)
For Jan-Sep 2021 compared to Jan-Sep 2020, Nova Scotia exports to the United States have increased 20.0% or $503.5 million. Exports to China are up 2.3% or $12.1 million.
Exports to large economies in Asia (Japan, South Korea, Hong Kong, Taiwan, Singapore) are up 39.9% (+$73.3 million) and have risen to the largest Euro Area countries (Germany, Italy, France, Netherlands, Belgium, Spain) by 23.7% (+$59.1 million). Exports to Mexico (+46.2%), United Kingdom (+17.4%), and other countries (+29.9%) 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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