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July 07, 2022NOVA SCOTIA INTERNATIONAL GOODS EXPORTS, MAY 2022 TREND (Year over year, customs-basis, unadjusted)
Nova Scotia international merchandise exports were $636.8 million in May 2022, an increase of 2.5% compared to May 2021. Canada merchandise exports increased 43.3% compared to May 2021.
International merchandise exports were higher in all provinces in May 2022. The largest increase was in Alberta and the smallest in Nova Scotia.
Year-to-Date by Province (January-May 2022 vs January-May 2021, customs-basis, unadjusted)
Nova Scotia's exports totalled $2,681.1 million over the first five months of the year. Year-to-date exports are up 9.1% in Nova Scotia and 28.3% in Canada. The fastest growth has been in Alberta, New Brunswick, British Columbia and Saskatchewan. The slowest growth has been in Manitoba.
Excluding energy exports, year-to-date exports are up 9.2% in Nova Scotia and 13.0% in Canada. The fastest growth in non-energy exports has been from New Brunswick (+28.0%), Prince Edward Island (+25.1%) and Saskatchewan (+22.4%). Non-energy exports have declined in Newfoundland and Labrador (-7.2%).
Nova Scotia Year-to-Date by Sector (January-May 2022 vs January-May 2021, customs-basis, unadjusted)
The largest dollar increase in year-to-date exports has been farm, fishing and intermediate food products (+$116.5 million, +21.1%). Most commodity categories have increased with declines only in energy, motor vehicle/parts, and transportation equipment.
Nova Scotia Year-to-Date by Country (January-May 2022 vs January-May 2021, customs-basis, unadjusted)
For January-May 2022 compared to January-May 2021, merchandise exports increased to the United States (+$214.1 million; +13.3%) and declined to China (-$33.0 million; -11.4%).
Exports to the largest Euro Area countries (Germany, Italy, France, Netherlands, Belgium, Spain) and United Kingdom were up significantly compared to last year. Exports to large economies in Asia (Japan, South Korea, Hong Kong, Taiwan, Singapore) have seen smaller growth of 3.7%. Exports to Mexico, and other countries were down compared to January-May 2021.
Statistics Canada. Table 12-10-0119-01 International merchandise trade by province, commodity, and Principal Trading Partners (x 1,000)
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