Québec exports up in March 2017
Québec, May 24, 2017. – Québec’s seasonally adjusted international exports in constant dollars at 2007 prices increased by 10.6% in March 2017 (up 2.6% in Canada). However, the cumulative export volume for the first quarter of 2017 was 1.8% below its level for the corresponding quarter of 2016 (down 0.8% in Canada). These figures on international merchandise trade were released today by the Institut de la statistique du Québec.
Fifteen of the top 25 products exported by Québec posted gains in March 2017. Aircraft recorded the largest increase, followed by aircraft engines and pharmaceutical and medicinal products. The most significant declines in exports were in iron ores and concentrates, diesel fuel, and printed and integrated circuits, semiconductors, and printed circuit assemblies.
Non-seasonally adjusted exports to the United States in current dollars were up 20.9% in March 2017 and accounted for 68.8% of Québec exports. The top 10 commodity groups exported to our neighbours to the south all posted gains in March. The largest increase was recorded by aircraft, followed by unwrought aluminum and aluminum alloys, and by pharmaceutical and medicinal products.
Exports to Europe were up 33.1% in March 2017, accounting for 15.1% of Québec exports. The highest gains were in aircraft, aircraft engines and petrochemicals. On the other hand, two of the top 10 groups posted a decline, namely diesel fuel and iron ores and concentrates.
Exports to Asia rose by 36.6% in March 2017 and accounted for 8.9% of Québec exports. Aircraft stood out with a large increase in exports, followed by fresh and frozen pork, and light-duty trucks, vans and SUVs. In contrast, the sharpest drop was posted by iron ores and concentrates.