Notice of release
Québec, December 21, 2022. – The Institut de la statistique du Québec released today an overview of Québec’s international merchandise imports and exports in current dollars, established on a customs basis, for the third quarter of 2022. 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 third quarter of 2021.
Trade and trade balance in the third quarter of 2022
Québec’s merchandise trade (the sum of exports and imports) was valued at $59.1 billion, up 14.8% from the third quarter of 2021.
- The merchandise trade balance (total exports minus total imports) showed a deficit of $3.9 billion, compared to $1.1 billion in the third quarter of 2021.
- The province continued to trade mainly with the United States (52.6%), and to a lesser extent, with China (9.7%).
- Québec recorded a $10.1 billion surplus with the United States, and a $3.8 billion deficit with China. There was therefore a $10.2 billion trade deficit with other countries, including a $4.2 billion deficit with the European Union.
Exports up 9.6%
Québec’s international merchandise exports totalled slightly under $27.6 billion, up 9.6% from the third quarter of 2021.
- A large proportion of these exports were destined for the U.S. market (74.6%), and a smaller proportion, for the Chinese market (3.5%).
- Unwrought aluminum and aluminum alloys were the most exported products in the third quarter. Their exports totalled slightly over $2,447.3 million, up 2.9% from the third quarter of 2021. They accounted for 8.9% of total exports. Aircraft ranked second with exports totalling $1,513.8 million, a 17.4% decline from the third quarter of 2021.
Imports up 19.7%
Québec’s international merchandise imports stood at nearly $31.5 billion, up 19.7% from the third quarter of 2021.
- The United States remained Québec’s leading supplier, accounting for 33.3% of the province’s total imports. China, its second-largest supplier, commanded a 15.1% share.
- The most imported products in the third quarter of 2022 were light-duty trucks, vans and sport utility vehicles ($2,090.6 million). They were followed by conventional crude oil, whose exports totalled $1,978.5 million. Imports of crude oil increased by 50.4% from the third quarter of 2021, while imports of light-duty trucks, vans and sport utility vehicles were down 6.2%.
- Imports of pharmaceutical and medicinal products ($1,048.0 million) were above the $1 billion mark for the seventh consecutive quarter, but were down 7.3% from the third quarter of 2021
Next release: March 29, 2023
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.