Analysis

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Exports: Declines in energy products and automotive products

Exports of energy products dropped 5.1% to $8.7 billion in June, the result of lower volumes and prices. The main contributors to this decline were petroleum and coal products as well as crude petroleum.

Exports of automotive products fell 5.3% to $4.5 billion, largely the result of a 6.8% decline in passenger autos and chassis. This was due to a 7.7% drop in volume in passenger autos and chassis.

Exports of agricultural and fishing products declined 2.3% to $3.2 billion in June. The decline was led by lower exports of other cereals unmilled, such as corn to Spain and Egypt, and canola to Japan.

Industrial goods and materials exports increased 0.9% to $9.5 billion in June, on the strength of metals and alloys, and chemicals, plastics and fertilizers. These increases were partially offset by a decline in exports of metal ores, mainly nickel ores, concentrates and scrap.

Imports: Energy products main factor in decline

Imports of energy products dropped 11.7% to $4.2 billion in June. Volumes were down 6.1% while prices fell 6.0%. Crude petroleum imports fell 22.1%, largely because of timing of shipment and plant shutdowns for maintenance.

Imports of industrial goods and materials declined 0.5% to $8.2 billion in June. Imports of chemicals and plastics fell 2.6% while other industrial goods and materials declined 1.2%. Partially offsetting this decline was an increase in metals and metal ores, which reached a record high of $3.5 billion.

Imports of machinery and equipment increased for a fourth consecutive month, rising 2.5% to $10.6 billion in June. Leading this gain was industrial and agricultural machinery, in particular drilling and mining machinery.

Imports of other consumer goods increased 2.1% to $5.0 billion; the main contributor was apparel and footwear.