Statistics Canada’s latest figures show that Canadian exports to Belgium, which amounted to $229 million in July and went down to $153 million in August, were down again in September to $124 million. Canadian imports from Belgium on the other hand, amounting to $236 million in July and to $179 million in August, were up to $267 million in September. As we can see from these figures, our bilateral trade has peaks and valleys and it will be interesting to follow its evolution in the months ahead.
Overall, Canadian September exports increased 0.7% while imports declined 1.3%, lowering Canada’s foreign trade deficit from $2.7 billion in August to $1.7 billion in September. Higher shipments of consumer goods (+4.6%), energy products (+3.7%) and metal and non-metallic mineral products (+3.2%) led the gain in exports, partly compensated by lower exports of motor vehicles and parts (-3.7%). Imports declined, following four monthly increases, the main contributors being metal and non-metallic minerals (-14.3%), energy products (-12.3%), motor vehicle and parts (-2.7%) and chemical, plastic and rubber products (-5.2%).
Canadian imports from the United States were down 0.4% and exports down 0.3%, bringing our trade surplus with the U. S. Slightly up from $3.15 billion in August to $3.17 billion in September. Imports from other countries decreased 3.1% while exports increased 4%, reducing Canada’s trade deficit with countries other than the U.S. from $5.8 billion in August to $4.9 billion in September.
South of the border, the U.S. international trade deficit went down from $48 billion in August to $40.8 billion in September. Exports were up 2.3%, led by increases in consumer goods and capital goods while imports were down 2.2%, with industrial supplies and materials and capital goods decreasing the most. The U.S. had surpluses with South and Central America and deficits with China, the European Union, Japan, Mexico, India, South Korea and as we know, with Canada.
Christian Sivière, Import Export Logistics Solutions TM, Montréal email@example.com All Rights Reserved November 2015
Sources: Statistics Canada, U.S. Census Bureau