Canada's exports fell 0.7% to $ 41.1 billion in May. The volume of exports fell by 2.3% and prices increased 1.6%. Imports fell 0.8% to $ 44.4 billion, as volumes fell 0.9% and prices increased 0.2%. Consequently, the trade deficit of goods from Canada to the world in May was virtually unchanged from April to $ 3.3 billion.
Energy products exports increase in May
Exports to Canada this energy products increased 7.1% to $ 5.3 billion in May. For the section as a whole, prices were up 9.7%, while volumes declined 2.3%. crude oil and crude bitumen exports have been the main contributor to the gain, up 10.5% to $ 3.8 billion, mainly on higher prices (+ 9.9%). Volumes also increased (+ 0.6%) despite the forest fires in north-eastern Alberta. Preliminary data indicate that the activity of domestic refineries declined in May, freeing the supply of crude oil for export, while the remaining deficit was largely met by a reduction in crude oil inventories of Alberta . Finally, although the volumes of crude oil and crude bitumen export may have increased export volumes for April and May were lower than recent levels.
Imports of energy products increased 18.2% to $ 2.1 billion in May, the third consecutive monthly increase. Volumes increased by 12.1% and prices increased 5.5%. Widespread gains throughout the section were conducted by refined petroleum energy products, up 63.8% to $ 694 million.
The trade surplus with the US widened in May
exports to the US increased by 3, 6% to $ 32.1 billion and imports fell 1.1% to $ 29.3 billion. Consequently, Canada's trade surplus with the United States rebounded from a low of $ 1.3 billion in April to $ 2.8 billion in May.
Exports to countries other than the United States fell 13.6% to $ 9.1 billion in May. There was a decline in exports to the United Kingdom (- $ 723 million), to countries other than Canada's major trading partners (- $ 164 million) and China (- $ 0 million). Imports from countries other than the United States declined slightly by 0.1% to $ 15.1 billion in May. The decline in imports from Japan (- $ 196 million) and Peru (- $ 152 million) were partially offset by an increase in imports from the United Kingdom (+ $ 164 million). Consequently, Canada's trade deficit with countries other than the United States increased from $ 4.6 billion in April to a record $ 6.0 billion in May.
metallic and nonmetallic mineral products lead the decline in exports
Total exports fell 0.7% to $ 41.1 billion, 8 of the 11 sections declined in May. The decline in exports of metal and non-metallic mineral products; industrial machinery, equipment and parts; and farm, fishing and intermediate food products were partially offset by an increase in exports of energy products. Exports excluding energy products fell 1.8%. Year after year, total exports fell 3.4%.
Exports of metals and non-metallic mineral products decreased 5.4% to $ 4.5 billion in May. unwrought precious metals and precious metal alloys decreased by 21.0% to $ 1.5 billion on lower exports of raw gold in the UK. For the section as a whole, volumes were down 2.8% and prices fell by 2.6%.
In May, exports of industrial machinery, equipment and parts declined 4.9% to $ 2.6 billion. machinery industry and business services led the declines, down 25.0% to $ 267 million. Overall, volumes were down 4.5% and prices decreased 0.5%.
There was a decline in exports of farm, fishing and intermediate food products, down 4.2% to $ 2.5 billion in May. Volumes fell 8.1%, while prices rose 4.3%. Wheat exports led the decline, falling 28.0% to $ 402 million on lower volumes.
The decline in imports caused by the aircraft and other transportation equipment and parts
Total imports fell 0.8% to $ 44.4 billion in May, despite gains in 6 of the 11 sections. The decline in imports of aircraft and other transportation equipment and parts; metal ores and non-metallic minerals; and metallic and non-metallic mineral products were largely responsible for the decrease. Partially offsetting these decreases were increases in imports of energy and basic chemicals and industry, plastics and rubber products. Year after year, total imports decreased by 2.1%.
After reaching a record high in April, imports of aircraft and other transportation equipment and parts fell 23.5% to $ 1.8 billion in May. The main contributor to the decrease was the decline in aircraft imports in half down to $ 511 million.
Imports of metal ores and non-metallic minerals fell by 24.2% to $ 732 million in May. Other metal ores and concentrates led the decline, down 29.3% to $ 465 million, primarily on lower imports from the Dominican Republic and Peru. Overall, volumes were down 14.6% and prices fell by 11.3%.
In May, imports of metal and non-metallic mineral products decreased 3.9% to $ 3.6 billion. Imports of unwrought precious metals and precious metal alloys decreased by 27.0% to $ 622 million. For the section as a whole, volumes were down 5.0%, while prices rose 1.1%.
With energy imports, imports of basic chemicals and industry, plastic and rubber also partially offset these declines, gaining 4.8% to $ 3.6 billion in May . Lubricants and other products of the oil refinery led the increase, up 20.0% to $ 597 million. For the section as a whole, prices were up 6.9%, while volumes declined 2.0%.
balance of commercial real changes to a deficit in May
Real (or volume) terms, exports fell 2.3% in May, led by energy products; agriculture, fisheries and food intermediates; and motor vehicles and parts. The volume of imports fell 0.9%, while lower imports of aircraft and other transportation equipment and parts, and metal and non-metallic mineral products were partially offset by an increase in imports of energy products. Consequently, Canada's trade balance in real terms has gone from a surplus of $ 213 million in April to a deficit of $ 317 million in May.
Revisions to April import and export
The revisions reflect initial estimates are updated or replaced with administrative data and survey because they became available and changes to the end documentation of high value-added operations. Imports in April, originally reported as $ 44.7 billion in the press last month, were revised $ 44.8 billion with the release of the current month. Exports, originally reported as $ 41.8 billion in the press last month, have been revised to $ 41.5 billion.
Statistics Canada
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