Exports lost some steam in April, but still chugging along
The lower values in April are due in part to regular seasonal variation in oil and natural gas production
By Rob Roach, ATB Economics 14 June 2021 1 min read
The value of Alberta’s international merchandise exports in April compared to March decreased 17 times during the previous 20 years, so the 9% drop in April 2021 was in keeping with this long-term pattern. Energy exports contracted by 11% and non-energy exports by 5%.
The lower values in April are due in part to regular seasonal variation in oil and natural gas production.
Total exports were, however, 56% higher this April than the year before when plummeting oil prices and the pandemic were wreaking havoc with Alberta’s economy, but down 5% compared to the pre-pandemic level in April 2019.
Encouragingly, the year-to-date value of exports from Alberta as of April was 8% higher than in 2019 and 16% above 2020.
Accounting for about two-thirds of Alberta’s total exports from January to April, the year-to-date value of energy products was 6% higher than in 2019 and 13% above 2020.
Non-energy exports, meanwhile, were well above their year-to-date level in 2019 (+11%) and 2020 (+22%).
Answer to the previous trivia question: According to Travel Alberta, Stampede pancake breakfasts date back to 1923 when pancakes were served from the back of a chuckwagon on Stephen Avenue.
Today’s trivia question: Over the first four months of 2021, how many different countries imported goods from Alberta?