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Quebec exports, imports dropped in April amid trade war
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Quebec's international exports declined 12.5 per cent from to March to April, the largest percentage decline since the beginning of the COVID-19 pandemic, the province's statistics institute said Thursday.
The decline, which came during the first full month during which United States import tariffs were in place on Canadian aluminum and steel, followed a 4.5 per cent decline in exports from February to March, according to the Institut de la statistique du Québec.
Exports to the United States dropped 26.9 per cent from March to April, with $6.3 billion in exports heading south of the border that month, the lowest level since February 2022.
The U.S. imposed and paused across-the-board tariffs on Canadian goods in February and March, before exempting goods that are compliant with the Canada-United States-Mexico Agreement. U.S. tariffs on all aluminum and steel imports — including from Canada — came into effect in March 12 and were doubled in June.
Exports to all other countries dropped by 10.7 per cent from March to April, the ISQ said.
Despite the month-to-month decline, overall exports were up 2.9 per cent in April when compared to the year before.
The province's imports declined 9.2 per cent from March to April, after declining 5.7 per cent the month before, the ISQ said. However, they were up 1.3 per cent from April 2024.
The ISQ says export data from the federal government was delayed due to issues with a new computer system used by the Canada Border Services Agency.
