Québec, April 18, 2024. – Québec’s international merchandise exports, seasonally adjusted and in constant dollars, were up 4.8% in February 2024 from the previous month. This finding comes from an analysis of the most recent data on Québec’s international merchandise trade released today by the Institut de la statistique du Québec.
The products that contributed the most to this monthly increase were commercial and service industry machinery and equipment (+318.3%), light fuel oils (+467.9%), unwrought aluminum and aluminum alloys (+14.9%), and pharmaceutical and medicinal products (+63.1%).
The products whose exports decreased in February include diesel and biodiesel fuels (-45.8%), iron ores and concentrates (-17.6%), oilseeds (except canola)
(-59.3%), as well as lubricants and other petroleum refinery products (-85.6%).
Exports in the first two months of 2024 were up 2.1% compared with the same months of 2023.
Québec’s international merchandise imports down in February 2024
Québec’s international merchandise imports, seasonally adjusted and in constant dollars, were down 0.2% in February 2024 from January.
The products that contributed the most to this decrease in imports are conventional crude oil (-49.2%), basic and semi-finished products of non-ferrous metals and non-ferrous metal alloys (except gold, silver, platinum group metals and aluminum)
(-63.3%), aviation fuel (-32.9%), and hot-rolled iron or steel products (-46.2%).
In contrast, imports of certain products were up in February. This was the case for computers and computer peripherals (+44.6%), waste and scrap of non-ferrous metals (+130.0%), light trucks, vans, and sport utility vehicles with electric motor and hybrid engine (+27.4%), as well as nickel ores and concentrates, whose imports were very low in January.
Imports in the first two months of 2024 were up 1.5% compared with the same months of 2023.
The situation in Canada
According to data published by Statistics Canada on April 4, 2024, Canada’s seasonally adjusted merchandise exports in constant dollars increased by 5.5% in February 2024 from January. Imports were also up by 5.5%.
For the first two months of 2024, Canada’s merchandise exports were up 0.8% compared with the same months of 2023, while imports decreased by 2.8%.
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International merchandise exports and imports1 |
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| 2023 | 2023 | 2024 | |||||
| Annual change | Monthly change2 | Cumulative change2,3 | |||||
| January | February | ||||||
| Québec | |||||||
| Exports | 3.2 | –5.3 | 4.8 | 2.1 | |||
| Imports | –2.1 | –3.7 | –0.2 | 1.5 | |||
| Canada | |||||||
| Exports | 5.6 | –1.3 | 5.5 | 0.8 | |||
| Imports | –1.1 | –5.2 | –5.5 | –2.8 | |||
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1. In constant dollars, at 2017 prices. Sources |
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Useful links
International trade – Monthly data
International Trade Data Online: A tool for generating customized reports
Next release: May 16, 2024
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.