Analysis

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Exports: Widespread declines in industrial goods and materials sector

Exports of industrial goods and materials fell 5.8% to $9.3 billion in April, as widespread declines were recorded throughout the sector. Volumes fell 3.7%, while prices declined 2.1%. Metal ores as well as metals and alloys were the main contributors to the sector's decline, which was partially offset by gains in chemicals, plastics and fertilizers, particularly potash.

Exports of machinery and equipment decreased 3.1% to $6.7 billion, as volumes fell 3.4%. The main contributor was a 14.1% decline in exports of aircraft engines and parts.

Exports of energy products decreased 0.8% to $9.9 billion in April, as prices fell 6.7%. Crude petroleum exports dropped 9.0%, the third consecutive monthly decline that was due to lower prices. Exports of petroleum and coal products increased 18.5%.

Automotive products exports rose 2.8% to $5.5 billion in April. Leading the gain were exports of passenger autos and chassis (+2.4%), followed by motor vehicle parts which recorded its fifth consecutive monthly gain. These increases were on the strength of volumes.

Exports of agricultural and fishing products, which increased 3.8% to $3.7 billion, have been on an upward trend since March 2011. Volumes rose 2.7%. The main contributors to the sector's gain were higher exports of fish and fish preparations (+18.7%) and wheat (+12.1%).

Counterbalancing movements in imports

Imports of automotive products rose 2.6% to $6.8 billion in April, as volumes grew 3.2%. Imports of motor vehicle parts, up 5.4% to $2.9 billion, led the sector's gain.

Imports rose 2.6% to $5.1 billion in the other consumer goods sector where widespread gains were recorded. The main contributor was imports of apparel and footwear (+11.1%), mostly the result of higher imports of apparel and apparel accessories.

Imports of industrial goods and materials rose 0.7% to $8.2 billion in April. Other industrial goods and materials (+2.5%) led the sector's increase on the strength of metal fabricated basic products.

Imports of energy products fell 6.8% to $4.1 billion, the result of lower prices and volumes. After three consecutive monthly increases, imports of crude petroleum fell 6.5% to $2.5 billion, as prices dropped 11.1%. Petroleum and coal products also contributed to the decline.

Imports of machinery and equipment decreased 0.6% to $10.8 billion in April. The decline was led by lower imports of office machines and equipment as well as other machinery and equipment, primarily laboratory equipment.

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 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 will be revised with the release of the January, February, March and April 2012 reference months.

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, free of charge.