Québec, July 14, 2020. – After a historic drop of 18.0% in April, Québec’s international merchandise exports, seasonally adjusted and in constant dollars, increased 4.8% in May 2020. This recovery was facilitated by the partial reopening of several sectors of the economy that had been shut down in March and April due to the COVID-19 pandemic.
The increase in exports in May was led by higher exports of aircraft (+58.9%), commercial and service industry machinery and equipment (+67.7%) and basic and semi-finished products of gold, silver, and platinum group metals, and their alloys (+160.8%).
Among the main products exported by Québec, other metal ores and concentrates not elsewhere classified (-62.9%), diesel and biodiesel fuel (-31.8%) and parts of electronic equipment not elsewhere classified (-42.2%) posted the largest declines in May.
In the first five months of 2020, Québec’s international merchandise exports in constant dollars fell 6.9% compared with the same months of 2019.
Québec’s international merchandise imports down 4.0% in May 2020
Québec’s international merchandise imports, seasonally adjusted and in constant dollars, fell 4.0% in May 2020 compared with the previous month. This was the fourth consecutive monthly decline (-30.4% in April; -1.5% in March; and -9.2% in February). The effects of the COVID-19 pandemic on Québec’s international merchandise imports were still being felt in May, due in part to lower demand for transportation-related products.
The main contributors to the decline in imports in May were basic and semi-finished products of non-ferrous metals and non-ferrous metal alloys (-83.4%), passenger cars and chassis (-63.2%), aviation fuel (-99.7%) and aircraft parts and other aerospace equipment (-20.8%).
Among the main products imported by Québec, unwrought gold, silver, and platinum group metals and their alloys (+136.9%), pharmaceutical and medicinal products (+5.9%) and conventional crude oil (+8.1%) posted the largest increases in May.
During the first five months of 2020, Québec’s international merchandise imports in constant dollars fell 21.7% compared with the same period in 2019.
The situation in Canada
According to information released by Statistics Canada on July 2, a 0.8% increase in merchandise exports, seasonally adjusted and in constant dollars, was observed in May 2020 compared with the previous month (-19.0% in April). As for merchandise imports, they decreased 6.4% in May from the previous month (-25.1% in April).
In the first five months of 2020, compared to the same period of the previous year, Canada’s merchandise exports and imports declined by 8.3% and 15.7%, respectively.
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International merchandise exports and imports1 (percentage change) |
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| 2019 | 2020 | ||||
| Annual change | Monthly change2 | Cumulative change2,3 | |||
| April | May | ||||
| Québec | |||||
| Exports | 0.5 | -18.3 | 4.8 | -6.9 | |
| Importations | 2.6 | -30.4 | -4.0 | -21.7 | |
| Canada | |||||
| Exports | 2.4 | -19.0 | 0.8 | -8.3 | |
| Importations | 1.2 | -25.1 | -6.4 | -15.7 | |
|
1. In constant dollars, at 2012 prices. |
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International Trade Data Online: statistique.quebec.ca/international-trade
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.