(The Canadian Press)

By Troy Gillard

Gains offset declines in other sectors

Energy exports from Alberta up in February: ATB Financial

Apr 8, 2021 | 11:15 AM

ATB Financial says the latest international merchandise trade numbers show Alberta’s foreign exports rose by eight per cent ($665.6 million) in February compared to the month before, and by six per cent ($568.5 million) compared to February 2020.

ATB says the increase was almost entirely due to a spike in energy exports. The value of energy product exports increased by 17 per cent ($974.2 million) on a month-over-month basis and by 5 per cent ($352.9 million) compared to February 2020.

The rise in energy exports offset month-over-month declines in other categories including agriculture and agri-food products (-13 per cent or $95.7 million); chemical, plastic and rubber products (-11 per cent or $77.0 million); and consumer goods (-11 per cent or $44.0 million).

Despite the drop compared to January 2021, agriculture and agri-food exports in February 2021 were up by 22 per cent ($119.6 million) vis-à-vis February 2020.

The forestry products and building and packing materials category was also a strong year-over-year performer, up 47 per cent ($145.0 million).

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The industrial machinery, equipment and parts category has the most ground to make up with exports down 23 per cent ($59.0 million) compared to February 2020.

Nationally, international merchandise exports decreased by 3 per cent ($1.3 billion) compared to January, but were 2 per cent ($649.6 million) higher than in February 2020.

(With file from ATB Financial “The Owl”)