Notice of release
Québec, June 29, 2023. – The Institut de la statistique du Québec released today its overview of Québec’s international merchandise imports and exports in current dollars, established on a customs basis, for the first quarter of 2023. The analysis looks at this trade from several angles, including the countries of origin and destination and the products imported or exported. Changes are calculated in relation to the first quarter of 2022.
Trade and trade balance in the first quarter of 2023
- Québec’s merchandise trade (the sum of exports and imports) was valued at $57.5 billion, up 9.4% from the first quarter of 2022.
- The merchandise trade balance (total exports minus total imports) showed a deficit of $851.2 million in the first quarter of 2023.
- The province continued to trade mainly with the United States (53.9%), and to a lesser extent, with China (7.2%).
- Québec recorded a surplus of nearly $10.4 billion with the United States and a $2.2 billion deficit with China. With other countries, the trade deficit was slightly below $9.1 billion, including a $3.6 billion deficit due to Québec’s trade with the European Union.
Exports up 9.8%
- Québec’s international merchandise exports totalled $28.3 billion, up 9.8% from the first quarter of 2022.
- A large proportion of these exports were destined for the U.S. market (73.1%), and a smaller proportion, for the Chinese market (3.4%).
- Unwrought aluminum and aluminum alloys were the most exported products in the first quarter. Their exports totalled $2,309.4 million, down 3.2% from the first quarter of 2022. They accounted for 8.2% of Québec’s total exports. Aircraft ranked second with exports totalling $1,692.3 million, a 16.1% increase from the first quarter of 2022.
Imports up 9.0%
- Québec’s international merchandise imports totalled nearly $29.2 billion in the first quarter of 2023, up 9.0% from the first quarter of 2022.
- The United States remained Québec’s leading supplier, accounting for 35.3% of the province’s total imports. China, its second-largest supplier, commanded a 10.9% share.
- The most imported products in the first quarter of 2023 were light-duty trucks, vans and sport utility vehicles ($3,129.0 million). They were followed by aircraft parts and other aerospace equipment ($2,044.7 million) and pharmaceutical and medicinal products ($1,026.9 million).
- Imports of conventional crude oil decreased by 23.6% from the first quarter of 2022 and dropped just below the billion-dollar threshold ($997.2 million).
Next release: September 27, 2023