Analysis

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Energy products lead the increase in exports

Exports of energy products increased 6.4% to $10.0 billion in November, as prices increased 6.3%. Exports of crude petroleum rose for the fourth consecutive month to a record high of $6.4 billion. Strong gains were also reported in petroleum and coal products, which rose 17.6%, and coal and other bituminous substances, which were up 28.5%. Lower exports of natural gas moderated the sector's increase.

Exports of industrial goods and materials rose 4.0% to $10.2 billion in November. Higher volumes of precious metals and alloys, as well as other crude non-metallic minerals, drove the gain. It was partially offset by a decline in volumes of fertilizers and fertilizer materials.

Exports of automotive products increased for a third consecutive month in November, rising 4.9% to $5.3 billion. Exports of passenger autos and chassis rose 8.5% to $3.6 billion, their highest level since January 2011. The gain was the result of higher volumes.

Imports: Automotive products, industrial goods and materials lead the decline

Imports of automotive products declined 4.4% to $5.7 billion in November, as volumes fell 4.0%. Trucks and other motor vehicles fell 13.6%, while passenger autos and chassis fell 8.1%. Partly offsetting these declines was a 3.8% increase in motor vehicle parts.

Imports of industrial goods and materials fell 3.0% to $8.3 billion following three consecutive monthly increases. Prices declined 3.7%. Imports of metals and metal ores fell 6.4%, with precious metals and alloys leading the decline.

Imports of machinery and equipment declined 1.1% to $10.7 billion in November, as decreases occurred in three of four sub-sectors. Aircraft and other transportation equipment fell 10.1%, the result of a drop in volumes. Higher imports of other machinery and equipment partially offset the overall decrease.

Imports of energy products increased 2.0% to $4.6 billion, the third consecutive monthly increase. Petroleum and coal products, namely fuel oil, rose 9.1% in November.

Note: In general, merchandise trade data are revised on an ongoing basis for each month of the current year. Current year revisions are reflected in both the customs and balance of payments (BOP) based data. The previous year's customs data are revised with the release of the January and February reference months as well as on a quarterly basis. The previous two years of customs based data are revised annually and are released in February with the December reference month. The previous year's BOP based data are revised with the release of the January, February and March reference months. Revisions to BOP based data for the previous three years are released annually in June with the April reference month.

Factors influencing revisions include late receipt of import and export documentation, incorrect information on customs forms, replacement of estimates produced for the energy sector with actual figures, changes in classification of merchandise based on more current information, and changes to seasonal adjustment factors.

Revised data are available in the appropriate CANSIM tables.