Exports from Canada fell 1.2 percent month-over-month to CAD 49.32 billion in October 2018, despite increases in 7 of 11 sections. It was the third consecutive month decline in Canadian exports, as sales of energy products slumped 12.4 percent to CAD 8.8 billion, mainly crude oil (-16.2 percent). Crude oil export prices were down 15.4 percent, the most since February 2016, as discounts for Canadian produced crude oil deepened. On the other hand, exports of motor vehicles and parts were up 4.4 percent to CAD 7.8 billion, driven by higher sales of passenger cars and light trucks (+6.6 percent); and exports of farm, fishing and intermediate food products increased 4.8 percent to CAD 3.4 billion, mainly canola. Exports in Canada averaged 21914.67 CAD Million from 1971 until 2018, reaching an all time high of 51016.70 CAD Million in July of 2018 and a record low of 1366 CAD Million in February of 1971.
Exports in Canada is expected to be 50400.00 CAD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Canada to stand at 48000.00 in 12 months time. In the long-term, the Canada Exports is projected to trend around 53000.00 CAD Million in 2020, according to our econometric models.