indicatorThe Owl

Exports from Alberta lower in September

Lower oil prices in September explain the monthly drop in Alberta

By ATB Economics 4 November 2020 1 min read

After three months of growth, Alberta’s international merchandise exports* contracted by 6.1 per cent ($458 million) in September. Nationally, exports increased for a fifth consecutive month, rising by 6.7 per cent ($2.7 billion).

Alberta is also lagging the country on a year-over-year basis.

Compared to September 2019, Alberta’s monthly exports were down by 24.7 per cent ($2.3 billion) whereas year-over-year exports were off by a more modest 6.2 per cent ($2.8 billion) in the country as a whole. If Alberta is excluded, year-over-year exports in the rest of the country were down by only 1.4 per cent ($492 million).

Lower oil prices in September explain the monthly drop in Alberta with exports from the energy products category 10.3 per cent ($518 million) lower than they were in August.

Adding up international sales over the first nine months of the year, there is a $20.3 billion hole in the energy products category compared to sales over the same period last year. In percentage terms, Alberta’s year-to-date energy exports were down by 31.7 per cent.

On the bright side, year-to-date exports in the farm, fishing and intermediate food products category were up by 7.6 per cent ($434 million).

Although still down on a year-to-date basis by 3.6 per cent ($119 million), strong lumber prices pushed up the value of exports in the forestry products and building and packaging materials category for the third month in a row with September’s sales up by 13.5 per cent ($54 million).

*The data have not been adjusted for season variation and are on a customs basis. 

Alberta’s international merchandise exports* contracted by 6.1 per cent ($458 million) in September

Alberta’s international merchandise exports* contracted by 6.1 per cent ($458 million) in September


Economics News

Subscribe and get a quick daily snapshot of what’s happening in Alberta’s economy

Need help?

Our Client Care team will be happy to assist.

ATB Virtual Assistant
The ATB Virtual Assistant doesn't support landscape mode. Please tilt your device vertically to portrait mode.
×