Yukon’s Merchandise Trade with the World
Publication No. 2013-41-E 9 July 2013
Michaël Lambert-Racine Economics, Resources and International Affairs Division Parliamentary Information and Research Service
The Library of Parliament Trade and Investment series provides information on Canada’s trade and investment relationship with the world and with selected countries. The series also describes the merchandise trade relationship that each of Canada’s 10 provinces and three territories has with the world. These publications are prepared by the Parliamentary Information and Research Service, which carries out research for and provides information and analysis to parliamentarians and Senate and House of Commons committees and parliamentary associations.
© Library of Parliament, Ottawa, Canada, 2013 Yukon’s Merchandise Trade with the World (Trade and Investment Series) Publication No. 2013-41-E Ce document est également publié en français.
CONTENTS
MERCHANDISE TRADE.................................................................................................................. 1 PRODUCTS ..................................................................................................................................... 2 TRADING PARTNERS..................................................................................................................... 3
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PUBLICATION NO. 2013-41-E
YUKON’S MERCHANDISE TRADE WITH THE WORLD
Merchandise Trade
Figure 1
In 2012, Yukon’s trade with the world was valued at $301.7 million, comprised of $215.6 million in exports from Yukon to, and $86.1 million in imports to the territory from, the world.
Merchandise Trade ($ millions) 250
Balance Exports Imports
200
The value of Yukon’s exports increased by 42.7% between 2011 and 2012, while the value of the territory’s imports declined by 18.1%.
150 100 50
th
0
Yukon was Canada’s 12 largest provincial/ territorial exporter in 2012. In that year, it was Canada’s 10th largest provincial/territorial importer.
-50 -100 1992
Over the 2007 to 2012 period, the value of Yukon’s exports increased at an average annual rate of 57.0%, compared to 0.2% for Canada’s global exports. In 2012, as in 2007, the value of the territory’s exports as a share of the value of Canada’s global exports was statistically insignificant.
1997
2002
2007
2012
Figure 2 Importance to Canada Average yearly growth (%): Share of Canada’s trade (%): 2007–2012
The value of Yukon’s imports decreased at an average annual rate of 2.2% over the 2007 to 2012 period, compared to an increase of 2.6% for Canada’s global imports. In 2012, as in 2007, the value of the territory’s imports as a share of the value of Canada’s global imports was statistically insignificant.
Y.T.
Canada
70.00 57.0 60.00 50.00 40.00 30.00 20.00 0.2 10.00 0.00 -10.00
2.6
0.0 0.0
0.0 0.0
Imports
0.0
0.0
0.2 0.18 0.16 0.14 0.12 0.1 0.08 0.06 0.04 0.02 0
0.0 0.0
-2.2
Exp.
In 2011, the most recent year for which data are available, the value of Yukon’s merchandise exports as a proportion of the territory’s gross domestic product (GDP) was 5.7%. In that year, the value of Canada’s global merchandise exports as a proportion of the country’s GDP was 25.4%.
Exports
Imp.
1997
2002
2007
2012
Figure 3 Merchandise Trade as a Percentage of Gross Domestic Product
The value of Yukon’s merchandise imports as a proportion of the territory’s GDP was 4.0% in 2011. In that year, the value of Canada’s global merchandise imports as a proportion of the country’s GDP was 25.3%.
Y.T.
Canada
Exports
Imports
29.4
6.5
6.0
25.4
24.0
23.0
4.1
5.7
2008 2009 2010 2011
26.4 23.3
4.5
3.6
24.2
4.0
25.3
4.0
2008 2009 2010 2011
All figures were prepared using Statistics Canada data available in spring 2013. The merchandise trade data are customs-based.
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YUKON’S MERCHANDISE TRADE WITH THE WORLD
Products
Figure 4 Major Export Products
In 2012, resource-based goods accounted for 95.6% of the value of Yukon’s exports, with manufactured goods representing the remaining 4.4%. This composition had changed since 2007, when resource-based goods and manufactured goods accounted for 77.4% and 22.6% respectively of the value of the territory’s exports.
($ millions) Ores, slag, ash Tools, implements, cutlery Specialized instruments Prec. metals, jewellery, coins
Yukon’s highest-valued exports in 2012 were copper ore, zinc ore and lead ore, which together accounted for 93.2% of the value of the territory’s exports. The value of Yukon’s copper ore, zinc ore and lead ore exports increased from $16.5 million, $0 and $0 respectively in 2007 to $126.8 million, $49.4 million and $24.7 million respectively in 2012.
Machinery and equipment
2007
Energy and related
2012
Iron, steel
0
50
100
150
200
250
Figure 5 Major Import Products
In 2012, manufactured goods accounted for 62.2% of the value of Yukon’s imports, with resource-based goods representing the remaining 37.8%. This composition had changed since 2007, when resource-based goods and manufactured goods accounted for 53.8% and 46.2% respectively of the value of the territory’s imports.
($ millions) Fish, seafood Energy and related Aircraft and parts Specialized instruments Machinery and equipment
Yukon’s highest-valued imports in 2012 were fresh or chilled fish, refined oil and airplanes, which together accounted for 75.1% of the value of the territory’s imports. The value of Yukon’s airplane imports increased from $7.5 million in 2007 to $12.6 million in 2012. The value of Yukon’s fresh or chilled fish and refined oil imports declined from $51.6 million and $21.7 million respectively in 2007 to $32.0 million and $20.1 million respectively in 2012.
2007
Articles of iron, steel
2012
Electr., electron., etc. Motor vehicles, parts
0
20
40
60
Figure 6 Balance by Category ($ millions)
In 2012, Yukon had a trade surplus with the world in the product categories of metals, mines and energy, as well as “other” products. It had a trade deficit with the world in all remaining product categories in that year.
Agriculture and food Metals, mines, energy Clothing, textiles, etc. Machinery and equipment Transportation equipment
2007
Other manufactured goods
2012
Other
-100
0
100
200
All figures were prepared using Statistics Canada data available in spring 2013. The merchandise trade data are customs-based.
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YUKON’S MERCHANDISE TRADE WITH THE WORLD
Trading Partners
Figure 7 Major Export Destinations
In 2012, the United States was Yukon’s most significant export destination, with exports valued at $81.3 million. The country accounted for 37.7% of the value of Yukon’s exports in that year, compared to 90.2% in 2007.
($ millions) United States South Korea
South Korea, Peru, China and Chile were also among the top five destinations for Yukon’s exports in 2012. Together, these four countries accounted for 57.3% of the value of the territory’s exports in that year, compared to 1.0% in 2007.
Peru
2007
China
2012
Chile Others
In 2012, the United States was Yukon’s most significant source of imports, with imports valued at $75.5 million. The country accounted for 87.7% of the value of Yukon’s imports in that year, compared to 89.9% in 2007.
0
25
50
75
100
Figure 8 Major Sources of Imports
France, Japan, the United Kingdom and South Korea were also among the top five sources of Yukon’s imports in 2012. Together, these four countries accounted for 10.8% of the value of the territory’s imports in that year, compared to 0.8% in 2007.
($ millions) United States France
In 2012, Yukon had trade surpluses with Asia, the Americas (excluding the United States), the United States, Africa, Oceania and the Middle East. It had a trade deficit with Europe in that year.
Japan
2007
United Kingdom
2012
South Korea Others
0
25
50
75
100
Figure 9 Trade Balance by Region ($ millions) United States (U.S.) Africa Americas (excl. U.S.) Asia Europe
2007
Middle East
2012
Oceania
-100
-50
0
50
100
All figures were prepared using Statistics Canada data available in spring 2013. The merchandise trade data are customs-based.
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PUBLICATION NO. 2013-41-E
