Alberta’s international customers part 4 of 4
How do we stack up against the other provinces?
By Rob Roach, ATB Economics 7 June 2022 1 min read
With the trajectory of global trade being called into question by protectionism, supply chain disruptions and war, this four-part series is focused on Alberta’s international exports.
Exports are an important part of every province’s economy. Averaged over the 2010-2019 period (before the disruptive effects of the pandemic in 2020), New Brunswick had an export-to-GDP ratio of 45% while Nova Scotia had the lowest ratio at 18%. Alberta’s ratio was 35% and Canada’s was 31%.
The real value of Alberta’s exports increased by 56% between 2010 and 2019—the highest jump in the country—compared to a 33% increase nationally. New Brunswick (-10%) and Nova Scotia (-4%) were the only provinces to post declines.
In absolute terms, Alberta is the second largest exporter after Ontario. Ontario’s share of total merchandise exports from Canada in 2021 was 38% compared to 22% for Alberta and 16% for Quebec.
The United States is the largest customer of every province, but Alberta is most dependent on it. The US accounted for 89% of Alberta’s merchandise exports in 2021 compared to 83% in Manitoba and 81% in Ontario. Newfoundland and Labrador was at the other end of the continuum with 47% of its exports heading south of the border last year.
Answer to the previous trivia question: Japan has nearly 7,000 islands, of which about 430 are inhabited.
Today’s trivia question: What is the population of Mexico?