Top 25 Canadian Exports for 2009
Nickel, Natural Gas and Crude Oil Lead Canada's Big Slump
Aug 31, 2009
During the first 6 months of 2009, only 2 of Canada’s top 25 exports showed any increase over the same period one year earlier. Exported drugs and medicines were up 7.4% while shipments of larger aircraft rose 3.4%.
The value for the top 25 Canadian exports from January to June 2009 was US$62.3 billion. That figure represents a dramatic 44.5% drop from $112.3 billion for the first 6 months of 2008.
Total Canadian shipments of $147.7 billion were down 37.7%. Canada’s 25 top exports accounted for 42.2% of all Canadian exports, and therefore have a significant impact on whether Canadian sales in foreign markets improve or deteriorate.
Top Canadian Export Commodities including Tariff Codes
The list below shows product categories for Canada’s leading exports during the first 6 months of 2009. The 6-digit international tariff code used to assess customs duties is shown within brackets.
- Crude Oil (tariff item code 270900) … US$14.6 billion (down 51.8% from 2008)
- Non-liquid Natural Gas (271121) … $7.6 billion (down 56%)
- Medium to Large-sized Automobiles (870324) … $6.3 billion (down 56.7%)
- Non-monetary Gold (710812) … $3.03 billion (down 31.2%)
- Non-light Petroleum Oils (271019) … $2.9 billion (down 50%)
- Drugs and Medicines (300490) … $2.3 billion (up 7.4%)
- Larger Aircraft (880240) … $2.26 billion (up 3.4%)
- Smaller Automobiles (870323) … $2.2 billion (down 30%)
- Wheat and Meslin Rye (100190) … $2.13 billion (down 22.1%)
- Unclustered Bituminous Coal (270112) … $2.02 billion (down 10%)
- Light Petroleum Oils (271011) … $1.8 billion (down 50.1%)
- Lumber from Evergreen Trees (440710) … $1.5 billion (down 41.1%)
- Vegetable Oil Seeds (120510) … $1.45 billion (down 22.5%)
- Potassium Chloride (310420) … $1.42 billion (down 42.10%)
- Newsprint (480100) … $1.34 billion (down 27.5%)
- Unalloyed Aluminum (760110) … $1.34 billion (down 34.7%)
- Chemical Woodpulp (470321) … $1.2 billion (down 42.5%)
- Fine Paper (480261) … $1.17 billion (down 14.9%)
- Electrical Energy (271600) … $979.5 million (down 48.9%)
- Clustered Iron Ores (260112) … $866.5 million (down 18.5%)
- Unalloyed Nickel (750210) … $789.9 million (down 58.4%)
- Durham Wheat Used for Pasta (100110) … $770.1 million (down 17.3%)
- Smaller Aircraft (880230) … $767.5 million (down 30.10%)
- Larger Piston Engines (840734) … $762.6 million (down 41.9%)
- Liquefied Propane Gas (271112) … $759 million (down 43.7%).
Top 10 Fastest Declining Canadian Exports
A startling 6 of Canada’s largest exports were down by more than 50% so far in 2009.
- Unalloyed Nickel (tariff item code 750210) … $789.9 million (down 58.4%)
- Medium-sized to Large Automobiles (870324) … $6.3 billion (down 56.7%)
- Non-liquid Natural Gas (271121) … $7.6 billion (down 56%)
- Crude Oil (270900) … $14.6 billion (down 51.8% from 2008)
- Light Petroleum Oils (271011) … $1.8 billion (down 50.1%)
- Non-light Petroleum Oils (271019) … $2.9 billion (down 50%)
- Electrical Energy (271600) … $979.5 million (down 48.9%)
- Liquefied Propane Gas (271112) … $759 million (down 43.7%)
- Chemical Woodpulp (470321) … $1.2 billion (down 42.5%)
- Potassium Chloride (310420) … $1.42 billion (down 42.10%).
The steep decline in Canadian exports can be partially explained by declining commodities prices. For example, nickel prices for the first 6 months of 2009 were about a third of prices garnered in early 2008.
However, the fact that Canada does not have counterbalancing products like rechargeable electric batteries or lifesaving medical devices is troubling. Canada needs new innovative products that capture sales from other countries, instead of simply providing raw materials and commodities that foreign competitors use to develop and manufacture their own new products.
Source: Trade Data Online from Industry Canada, based on Statistics Canada reports as of August 31, 2009.
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