Exports continue to ride high above 2021 levels
Alberta’s exports were 54% higher in January and February than during the same period last year
By Siddhartha Bhattacharya, ATB Economics 6 April 2022 1 min read
After reaching a record high of $15 billion in January, the value of Alberta’s merchandise exports eased by $1.4 billion (-9%) in February.
The monthly decline was entirely attributable to energy products (-12%), which took a step back after posting gains since November.
Despite the drop, it’s a very different picture compared to the situation a year ago. Over the first two months of 2022, Alberta’s merchandise exports were $10.1 billion (+54%) higher than during the same period last year.
With the exception of Manitoba and Newfoundland and Labrador, every province contributed to the 18% increase in Canadian international exports in January and February compared to the same period in 2021 with energy exports from Alberta alone driving the majority (60%) of the improvement.
According to Statistics Canada, the blocking of border crossings between Canada and the United States by protestors had little overall impact on the flow of goods between the two countries in February with trade activity rising at alternate border crossings during the month.
Answer to the previous trivia question: According to oldest.org, the Knap of Howar dates back to around 3600 BCE and is the oldest building in the world that is still standing (where a building is defined as a structure with a roof and walls that was meant to be used by living people).
Today’s trivia question: When did long-distance merchandise trade begin?