Canada Exportations

Canada’s exports fell 2.8% month over month to C$63.9 billion in November, following strong gains in September and October. Despite the headline decline, exports increased in eight of the eleven product categories. Metal and non metal mineral products dropped 24.4%, reversing earlier strength as exports of unwrought gold, silver and platinum group metals fell sharply, driven by weaker shipments to the UK, the US and Hong Kong. Motor vehicle and parts exports declined 11.6%, with passenger cars and light trucks down 9.0% amid lower production, while exports of medium and heavy vehicles plunged 53.8% following the introduction of new US import tariffs. Partly offsetting these declines, energy exports rose 8.5%, led by a 7.6% increase in crude oil and bitumen shipments on higher volumes after temporary US refinery shutdowns in October. Exports to the US decreased 1.8%, while shipments to other countries fell 4.9%.