Exports bounced back in 2021
The annual value of international merchandise exports from Alberta jumped by 50% ($46.1 billion) last year
By Rob Roach, ATB Economics 9 February 2022 1 min read
The numbers are in for all of 2021 and Alberta had a good year on the export front.
After contracting slightly in 2019 and then pulling back by 22% in 2020, the annual value of international merchandise exports from Alberta jumped by 50% ($46.1 billion) last year to reach $138.1 billion.
A 65% ($39.4 billion) rise in energy product exports accounted for most of the overall increase, but annual increases were recorded in seven other major product categories including metal ores and non-metallic minerals (+116%); forestry products and building and packaging materials (+48%); basic and industrial chemical, plastic and rubber products (+35%); and consumer goods (+31%).
Three categories lost ground last year: motor vehicles and parts (-6%); farm and intermediate food products (-2%); and aircraft and other transportation equipment and parts (-0.3%).
Exports to the U.S. in 2021 came in at $122.7 billion or 89% of the total and were up by 58% compared to 2020.
Exports to China (our second largest customer) accounted for 3.3% of the total but, unlike sales south of the border, were down by 5% compared to 2020.
Nationally, annual exports increased by 21% and were up in all major categories except for motor vehicles and parts, which was down by 9% in 2021 after falling by 30% in 2020. The value of motor vehicles and parts exports from Canada were $24.4 billion lower last year than before the pandemic in 2019.
Exports in 2021 were up in every province compared to 2020 but were below pre-pandemic levels in Ontario and Newfoundland and Labrador.
Answer to the previous trivia question: Canada won 11 gold medals at the 2018 Winter Olympics.
Today’s trivia question: Which of Canada’s three territories had the highest level of international merchandise exports by dollar value in 2021?