Analysis

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Machinery and equipment leads imports

Imports of machinery and equipment increased 3.2% to a record high of $11.2 billion in June. Volumes were up 3.0%. Imports of other machinery and equipment led the gain in the sector followed by industrial and agricultural machinery.

Imports of other consumer goods rose 4.7% to $5.3 billion. Imports of miscellaneous end products, mainly medicinal and pharmaceutical products, led the gain on higher volumes.

Imports of industrial goods and materials rose 2.3% to $8.5 billion, the third consecutive monthly increase. Widespread gains throughout the sector were led by imports of plastic materials and other iron and steel products.

The only sector to decline in June was energy products, down 3.6% to $4.2 billion. Prices fell 9.2%. Imports of crude petroleum decreased 18.2% to $2.2 billion as both volumes and prices fell. In contrast, petroleum and coal products registered strong gains in volumes, mainly on higher imports of light oils and preparations.

Strong gains in exports of automotive products

Exports of automotive products rose 13.9% to $6.3 billion in June as volumes were up 13.2%. The main factor was exports of passenger autos and chassis which increased 19.5% to $4.3 billion, the highest level since January 2006.

Exports of energy products fell 3.5% to $9.0 billion, as prices fell for the fifth consecutive month. The main contributor was crude petroleum exports which declined 5.3% to $5.6 billion.

Exports of agricultural and fishing products declined 2.8% to $3.5 billion, the lowest level since August 2011. Leading the decline was a 27.4% decrease in wheat exports, on lower volumes.

In the machinery and equipment sector, exports declined 1.3% to $7.2 billion, as volumes fell 2.5%. Lower exports of aircraft and other transportation equipment were the main contributor.

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.