Energy exports from Alberta up in February: ATB Financial

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.