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April 05, 2023NOVA SCOTIA INTERNATIONAL GOODS EXPORTS, FEBRUARY 2023 Year over year (February 2023 vs February 2022, domestic exports on a customs-basis, unadjusted)
Nova Scotia international goods exports were $496.3 million in February 2023, an increase of 13.4% compared to February 2022.
Canada's goods exports were up 9.0%. Seven provinces reported year-over year increases in February 2023 with Prince Edward Island (+43.5%) leading the growth. Goods exports were down from a year ago in Newfoundland and Labrador, New Brunswick and British Columbia.
Year-to-Date (January-February 2023 vs January-February 2022, domestic exports on a customs-basis, unadjusted)
Nova Scotia's international goods exports totalled $1,033.8 million over the first tow months of 2023, up 10.3% from the same period in 2022. In Canada, international goods exports were up 13.9% with gains in all provinces. The fastest export growth was reported in Saskatchewan, Prince Edward Island and Manitoba while the slowest growth was reported in British Columbia.
Among broad product categories, Nova Scotia's year-to-date exports growth was most attributable to gains in consumer goods. The largest percentage increase was in the smaller energy category. Exports of forestry products and other transportation equipment declined during the first two months of the year.
The US is by far Nova Scotia's largest destination for international goods exports. For the January-February 2023 period, Nova Scotia exports to the United States were up 10.2% to $672.9 million.
China is Nova Scotia's second largest export destination and exports increased 27.4% to $174.0 million in the first two months of 2023.
The fastest growth was in relatively small export destinations of Indonesia. Year to date, exports were up to Hong Kong, Brazil and India, and declined to Netherlands, Mexico, South Korea and United Kingdom.
Nova Scotia's exports to the US accounted for 65.1% of exports in January-February 2023. The top five states - Massachusetts, Illinois, South Carolina, Texas and Maine, all had increases compared to January-February 2022.
Source: Statistics Canada. Table 12-10-0119-01 International merchandise trade by province, commodity, and Principal Trading Partners (x 1,000); Table 12-10-0099-01 Merchandise imports and exports, customs-based, by Harmonized commodity description and coding system (HS) section, Canada, provinces and territories, United States, states (x 1,000)
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