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Alberta trade in decent shape despite the hazy backdrop

Alberta trade in decent shape despite the hazy backdrop

Posted on: 1/9/2019 | Author: ATB Financial's Economics + Research Team

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Global trade continues to look uncertain. The US and China have not come to a resolution in their dispute, and Britain is having a difficult time negotiating its exit out of the European Union. Here in Alberta, however, the trade picture is looking a bit brighter.

According to Statistics Canada’s latest trade numbers, international merchandise exports from Alberta were about $9.5 billion. That figure is down from the previous month but is up 11.4 per cent year-over-year. Canada’s export growth rate was four per cent in November.

Over the course of 12 months, all export categories increased except basic and industrial chemicals. The category that grew the most in November was the exports of industrial machinery. Sales of this type of equipment grew nearly 30 per cent year-over-year.

There’s no denying that clouds of uncertainty are hanging over the global trade picture. There are clouds over Alberta too, specifically in regards to the sale of the province’s energy resources. But, Alberta’s trade outlook doesn’t look too bad so long as the province’s agricultural and manufactured goods continue to perform well domestically and globally.

New vehicle sales, graph

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