Note: The figures are in chained 2007 dollars. The total appears far less than in current dollars because of inflation. However, the figures appear higher than the Quebec GDP. In fact, many different methods are used to report economic activity, which result in widely differing figures. The export totals used here are the market prices at the time of sale in equivalent 2007 dollars. The selling price includes both old and new value within the commodity unlike GDP, which is designed to measure only new value added during a specific reporting period, usually one year. If GDP were reported at market prices of goods and services, it would include value already reported from a previous period and not just the value produced during the year in question.
Destination of Exports (2017 — approximate)
– United States = $60.276 billion (70.8 per cent of total)
– China = $2.86 billion (3.36 per cent of total)
– Mexico = $1.755 billion
– France = $1.693 billion
– Japan = $1.363 billion
Major Export Products (2017)
1) Aerospace product and parts manufacturing = $10 billion
2) Unwrought aluminum and aluminum alloys = $7.5 billion
3) Iron ores and concentrates = $2.4 billion
Electricity exports both to U.S. and the rest of Canada = $1.527 billion (2014)
Of this export, 65 per cent went to the U.S. ($993 million) and 35 per cent ($534 million) to the rest of Canada.
Total imports into Quebec (2017) = $77.401 billion
Imports into Quebec from country of origin (2017):
– United States = $24.641 billion (31.8 per cent of total)
– China = $10.95 billion (14.18 per cent)
– Germany = $3.597 billion
– United Kingdom = $3.278 billion
– Mexico = $1.902 billion
Major import products (2017 — all dollar figures approximate in chained 2007 dollars):
– Aircraft parts and other aerospace equipment = $6.5 billion
– Pharmaceutical and medicinal products = $3.4 billion
Of particular note is the balance of trade in energy sector (figures from 2013):
– Electricity = +$1.527 billion (surplus)
– Petroleum = -$12.197 billion (deficit)
– Natural gas = -$1.244 billion (deficit)
– Coal = -$90 million (deficit)
Total deficit in energy sector = -$12.178 billion
Origin of crude petroleum supply from 2006, 2013 and 2014 (Note the dramatic increase from the Americas, mainly the U.S.):
|Americas (including Canada)||15.1%||19.7%||63.1%|
|Africa, Middle East and other countries||46.2%||58.7%||28.3%|
Comparing Quebec 2014 Trade with Rest of Canada and Internationally
Note: 2014 figures from Statscan are in basic or current prices and not chained to the 2007 dollar to adjust for inflation, so they appear far higher than figures above from the Québec Handy Numbers from the Institut de la Statistique du Québec, which are chained.
Total exports from Quebec to both Canada and other countries (2014) = $172.777 billion.
International exports (2014) = $105.365 billion.
Exports of total goods and services from Quebec to the rest of Canada (2014) = $67.412 billion.
Exports to the rest of Canada represent 39 per cent of total exports and 18 per cent of Quebec’s GDP.
Detailed information on all commodities available here. Statistics Canada itemizes all Quebec exports both intra-Canada and internationally in a long list. To view, choose a commodity and click « Apply. » For example scroll down to Aircraft and click « Apply. » This shows:
– Intra-Canadian Quebec exports of aircraft = $0.659 billion.
– International exports of aircraft = $6.347 billion.
Readers should note that the Quebec people or government are not in control of imports and exports. The control is exercised through ownership of the companies involved in trade. The ownership of most companies is supranational in scope with the control mostly exercised from outside Quebec. The motivation behind trade, both imports and exports, is found in the private interests of the oligarchs who own and control the companies involved. The Quebec people and governments do not have sovereign control over trade, which forms a major sector of the economy. The supranational oligopolies have become so large and powerful they want to eliminate all public authority over trade and exercise their private authority over trade to serve their private interests not the interests of the Quebec people and their economy.
Discussion on Economic Reports: The problem with economic reports from authorities such as governments, Statistics Canada and the big companies stems from the underlying feature of an anti-worker bias and outlook. They refuse to recognize that the workers through their work-time transform the natural bounty of nature into economic value. Using market prices or the accounts of companies as the basis of economic reports and figures diverts people from examining and grasping the actual source of economic value and from developing solutions for economic problems that favour the people and their economy.
The anti-worker and anti-social bias and outlook of the ruling elite turn the working class into a cost of production rather than the source of value. Instead of nurturing the working class as the most precious factor of a modern economy and guaranteeing workers their well-being, rights and security as the key to guaranteeing the well-being and security of all and the economy and society, those who own and control the economy attack the very human factor that produces all economic value. A fundamental transformation in outlook and practice must occur if the people are to humanize workplaces and the social and natural environment, guarantee their own well-being and security and the general interests of society. The battle for democratic renewal and a modern Quebec that defends the rights of all must be engaged in earnest if problems in the economy are to be solved and the dream realized of building a new society fit for human beings.
(Sources : Québec Handy Numbers, Quebec Ministry of Finance, Statistics Canada)