Québec’s international merchandise exports down in July 2022
Québec, September 21, 2022. – Québec’s international merchandise exports, seasonally adjusted and in constant dollars, were down 5.4% in July 2022 from the previous month. This finding comes from an analysis of the most recent of Québec’s international merchandise trade data released today by the Institut de la statistique du Québec.
The products that contributed the most to this monthly decline were unwrought aluminum and aluminum alloys (-32.5%), commercial and service industry machinery and equipment (-52.1%), and aircraft (-22.5%).
The products whose exports increased in July include iron ores and concentrates (+29.3%), heavy fuel oils (+37.2%), as well as other metal ores and concentrates not elsewhere classified and light fuel oils, which both had very low export levels in June.
Exports in the first seven months of 2022 were up 4.0% compared with the same months of 2021.
Québec’s international merchandise imports down in July 2022
Québec’s international merchandise imports, seasonally adjusted and in constant dollars, were down 3.2% in July from June 2022.
The products that contributed the most to the decrease in imports were pharmaceutical and medicinal products (-39.4%), motor gasoline (including blending components and ethanol fuel) (-28.7%), basic and semi-finished products of non-ferrous metals and non-ferrous metal alloys (except gold, silver, platinum group metals and aluminum) (-38.1%), and light-duty trucks, vans and sport utility vehicles (-8.6%).
However, imports of certain products were up in July. This was the case for conventional crude oil (+52.7%), unwrought gold, silver, and platinum group metals and their alloys (+251.8%), and aircraft, whose imports in June were very low.
Imports in the first seven months of 2022 were up 1.0% compared with the same months of 2021.
The situation in Canada
According to data published by Statistics Canada on September 7, 2022, Canada’s seasonally adjusted merchandise exports in constant dollars increased by 1.7% in July 2022 from the previous month. Canada’s merchandise imports declined by 1.2%.
For the first seven months of 2022, Canada’s merchandise exports and imports were up by 1.8% and 7.2%, respectively, compared with the same months of 2021.
Exportations et importations internationales de marchandises1 (variations en pourcentage)
|Annual change||Monthly change2||Cumulative change2,3|
1. In constant dollars, at 2012 prices.
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Next release: October 20, 2022
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