Québec, March 20, 2024. – Québec’s international merchandise exports, seasonally adjusted and in constant dollars, were down 5.5% in January 2024 from December 2023. This was revealed in an analysis of Québec’s most recent international merchandise trade data released today by the Institut de la statistique du Québec.
The products that contributed the most to this monthly decrease were aircraft
(-42.1%), oilseeds (except canola) (-60.5%), aircraft engines (-17.8%), and pharmaceutical and medicinal products (-30.1%).
The products whose exports increased in January include heavy fuel oils (+77.3%), lubricants and other petroleum refinery products (+543.7%), iron ores and concentrates (+15.9%), and nickel ores and concentrates, which had no exports in December 2023.
Exports in January 2024 were down 2.4% from January 2023.
Québec’s international merchandise imports down in January 2024
Québec’s international merchandise imports, seasonally adjusted and in constant dollars, were down 5.5% in January from the previous month.
The products that contributed the most to this decrease in imports were light-duty trucks, vans and sport utility vehicles, without electric motor (-19.0%), diesel and biodiesel fuels (-92.2%), pharmaceutical and medicinal products (-9.1%), as well as aircraft parts and other aerospace equipment (-7.5%).
In contrast, imports of certain products were up in January. This was the case for conventional crude oil (+85.8%), copper ores and concentrates, whose exports were very low in December 2023, aviation fuel (+84.8%), and printed and integrated circuits, semiconductors, and printed circuit assemblies (+62.8%).
Imports in January 2024 were down 2.3% from January 2023.
The situation in Canada
According to data published by Statistics Canada on March 7, 2024, Canada’s seasonally adjusted merchandise exports in constant dollars decreased by 2.1% in January 2024 from December 2023. Meanwhile, imports were down 5.0%.
Compared with January 2023, Canada’s merchandise exports and imports were down by 3.7% and 6.1%, respectively.
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International merchandise exports and imports1 |
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| 2023 | 2023 | 2024 | |||||
| Annual change | Monthly change2 | Cumulative change2,3 | |||||
| December | January | ||||||
| Québec | |||||||
| Exports | 3.1 | – 4.1 | – 5.5 | – 2.4 | |||
| Imports | – 2.1 | 1.2 | – 5.5 | – 2.3 | |||
| Canada | |||||||
| Exports | 5.7 | – 0.3 | – 2.1 | – 3.7 | |||
| Imports | – 1.1 | 1.1 | – 5.0 | – 6.1 | |||
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1. In constant dollars, at 2017 prices. Sources Useful linksInternational trade – Monthly data International Trade Data Online: A tool for generating customized reports Next release: April 18, 2024
The Institut de la statistique du Québec produces, analyzes and disseminates official, objective and quality statistical information on various aspects of Québec society. It is responsible for conducting all statistical surveys of general interest. The relevance of its work makes it a strategic ally for decision makers and all those wishing to learn more about Québec. |
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