Quebec's Economy Sees Another of Export Decline
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Quebec’s Economy Sees Another of Export Decline

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0.2% decrease in Québec’s international merchandise exports in October 2020

Québec’s seasonally adjusted international merchandise exports, in constant dollars, fell 0.2% in October 2020 compared to the previous month (+ 4.7% in September). With this decline, the level of exports in October was 7.6% below that of February. 

The decline in October was mainly due to the decrease in aircraft exports (- 32.9%). Iron ores and concentrates (- 18.3%) and diesel and biodiesel fuels (- 37.2%) also posted notable declines.

In contrast, oilseed products (except canola) (+ 571.9%), primary forms and semi-finished products of gold, silver, platinum group metals and their alloys (+ 133.3%) and copper and copper alloys in raw form (+ 21.0%) saw an increase in their exports in October.

Quebec's Economy Sees Another of Export Decline

During the first ten months of 2020, compared to the same period of the previous year, Québec’s international merchandise exports in constant dollars fell by 9.8%.

4.5% drop in international merchandise imports from Quebec in October 2020

Québec’s international merchandise imports, seasonally adjusted, in constant dollars, fell 4.5% in October 2020 compared to the previous month (+ 9.0% in September).

Among the commodities that contributed the most to the decline in October, crude gold, silver and platinum group metals and their alloys (- 61.8%), conventional crude oil (- 31.1 %) and motor gasoline (including gasoline blending components and ethanol fuel) (- 34.6%) are experiencing a notable decrease.

However, Quebec imports of light trucks, vans and sport utility vehicles (SUVs) (+ 5.6%), bauxite and aluminum oxide (+ 48.0%) and women’s clothing (+ 21.7%) increase in October.

Quebec's Economy Sees Another of Export Decline

During the first ten months of 2020, compared to the same period of the previous year, Québec’s international merchandise imports in constant dollars decreased by 16.9%.

The situation in Canada

According to information released by Statistics Canada on December 4, a 0.9% increase in merchandise exports, seasonally adjusted, in constant dollars, was observed in October 2020 compared to the previous month. Canadian merchandise imports, for their part, rose 2.5% in October (+ 1.3% in September).

In the first ten months of 2020, compared to the same period of the previous year, Canada’s merchandise exports declined 7.8%, while Canadian merchandise imports decreased 10.8% .

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