Québec, May 19, 2020. – Québec’s international merchandise exports, seasonally adjusted and in constant dollars, fell 5.4% in March 2020 from the previous month (+1.1% in February). These figures on international merchandise trade were released today by the Institut de la statistique du Québec.
The decline in international exports in March was mainly due to a 43.5% drop in aircraft exports. The other main contributors were iron ores and concentrates (-28.0%) and copper ores and concentrates (-99.9%).
Exports of aluminum and aluminum alloys (+12.6%), diesel and biodiesel fuels (+92.5%) and waste and scrap of iron and steel (+439.5%) posted the largest increases in March.
In the first three months of 2020, Québec’s international merchandise exports in constant dollars grew 0.9% compared with the same period in 2019.
Québec’s international merchandise imports down 2.7% in March 2020
Québec’s seasonally adjusted international merchandise imports in constant dollars were down 2.7% in March 2020 from the previous month (-8.8% in February).
Aircraft (-97.8%), aircraft engines (-54.9%) and light-duty trucks, vans and sport utility vehicles (-6.3%) were some of the products that contributed most to the decline in international imports in March.
In contrast, imports of basic and semi-finished products of non-ferrous metals and non-ferrous metal alloys (+233.5%), gold, silver and platinum group metal ores and concentrates (+218.5%) and conventional crude oil (+10.4%) all increased in March.
During the first three months of 2020, Québec’s international merchandise imports in constant dollars fell 6.6% compared with the same months in 2019.
The situation in Canada
According to data released by Statistics Canada on May 5, Canada’s seasonally adjusted merchandise exports in constant dollars fell 4.3% in March from the previous month (+2.1% in February). As for merchandise imports, they dropped 5.4% in March (-1.7% in February).
In the first three months of 2020, compared with the same period in 2019, Canada’s merchandise exports rose 2.0%, while merchandise imports fell 4.4%.
|
International merchandise exports and imports1 (percentage change) |
|||||
| 2019 | 2020 | ||||
| Annual change | Monthly change2 | Cumulative change2 3 | |||
| February | March | ||||
| Québec | |||||
| Exports | 0.5 | 1.1 | -5.4 | 0.9 | |
| Imports | 2.6 | -8.8 | -2.7 | -6.6 | |
| Canada | |||||
| Exports | 2.4 | 2.1 | -4.3 | 2.0 | |
| Imports | 1.2 | -1.7 | -5.4 | -4.4 | |
|
1. In constant dollars, at 2012 prices. |
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International Trade Data Online: statistique.quebec.ca/international-trade
Comment: Effects of the COVID-19 pandemic on international trade
The effects of the COVID-19 pandemic on Québec’s international exports and imports during the month of March are not as significant as expected. Closures and production slowdowns resulting from the COVID-19 crisis were felt more intensely at the end of the month and continued into April.
Moreover, the significant fluctuations that characterize Québec’s international merchandise trade data make it difficult to identify the effects of the crisis on the results of a particular month. These effects will be more visible over a longer period (quarter or semester).
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.