May 24th, 2013
Canada’s merchandise exports increased 5.1% in March and imports rose 1.7%. As a result, Canada’s trade balance went from a deficit of $1.2 billion in February to a surplus of $24 million in March. Exports grew to $40.5 billion in March, and have been on an upward trend since July 2012. Gains were recorded in all sections during the month and export volumes were up 5.1%.
Imports rose for a third consecutive month to reach $40.4 billion, their second highest value on record.
Exports to the United States rose 4.0% to $29.5 billion in March, on higher exports of motor vehicles and parts and energy products. Imports from the United States were up 2.0% to $25.6 billion, a third consecutive monthly advance. Consequently, Canada’s trade surplus with the United States increased from $3.2 billion in February to $3.8 billion in March.
Exports to countries other than the United States rose 7.9% to $11.0 billion in March. Imports from countries other than United States grew 1.2% to $14.8 billion.
May 7th, 2013
The following is excerpted from the 2 May 2013 article by CBC News.
Canada exported more goods to the rest of the world than we brought from others in March, as the economy swung from a $1.2 billion trade deficit to a small, $24 million surplus.
Statistics Canada reported that Canada exported some $40.5 billion worth of goods and services in March. The trend in exports has been inching higher since July 2012, the data agency said.
The uptick in exports was more than enough to offset an increase in imports, which rose to $40.4 billion, their second highest level on record.
StatsCan credited higher exports of motor vehicles and car parts with the export bump, as well as higher exports of energy products. Canada shipped out 24.8 per cent more natural gas in March than the country did in February.
April 30th, 2013
The United States may be the trade capital of the world, but if you’re looking for North America’s fastest-growing container ports, you’ll have to look north and south of its borders. Among the Top 25 North American ports, only two U.S. ports – Tacoma and Virginia – grew at a double-digit clip in total containerized trade last year. Yet both lagged well behind the growth at North America’s two newest ports: Prince Rupert, British Columbia, with 32.7 percent growth, and Lazaro Cardenas, Mexico, 29.3 percent.
On the import leg, Prince Rupert’s 5-year-old container port spiked 36.4 percent year-over-year. On the export rankings, the Mexican port surged 28.1 percent with Prince Rupert up 24.1 percent. U.S. ports handled 79 percent of the laden North American container trade, with Los Angeles-Long Beach accounting for 32.4 percent of North American imports, 19.9 percent of exports and 27.1 percent of total trade.
Overall North American trade totaled 38 million laden 20-foot-equivalent units last year, led by U.S. ports with 30.1 million TEUs. Canadian ports handled 4.4 million TEUs, representing 11.6 percent of the market. Mexico’s container ports, while accounting for the smallest share of North American trade, saw combined export-import container volume spike 12.5 percent year-over-year.
Mexico’s ports also led North American export growth. Canadian ports saw 1.5 percent export growth. U.S. ports handled the lion’s share of North American exports in 2012. Of the total 16.1 million TEUs moving overseas, U.S. ports handled 12.5 million, or 77.9 percent. Exports through Canadian ports totaled nearly 2 million TEUs, for a 12.4 percent share, and Mexican ports moved 1.6 million TEUs in exports, for a 9.8 percent share. (Journal of Commerce)
April 25th, 2013
As industrial action by Hong Kong dockworkers has entered its fourth week, shippers say they are seeing shorter, more predictable delays at core terminals. Although import cargoes can be still delayed for days, exporters are returning to normal schedules in Hong Kong after diverting some cargoes to Shenzhen.For outbound cargoes they are seeing no problems. For inbound cargoes, most shippers are seeing some delays ranging from several hours to a day. Hong Kong Association of Freight Forwarding Agents estimates suggest that exporters were not facing serious delays but that delays for importers can last up to 10 days.
Negotiations have stalled between some 450 workers and HIT sub-contractors. Union leaders vow to continue industrial action and have asked HIT to intervene. (Lloyds Loading List)
April 23rd, 2013
The danger of a major disruption to freight forwarding traffic in Sweden from Wednesday appears certain after the country’s Transport Workers’ Union gave the Swedish Road Transport Employers Association (SRTEA) final notice of industrial action. In response, SRTEA is to implement a general lock-out to start at 5pm on Thursday. The employers’ unions are coming under intense pressure from industry leaders, and in particular the country’s biggest export groups, to resolve the wage-centered impasse in talks.
The strike will shut down 80% of domestic and international freight traffic through ports and on roads. The operations of leading freight-forwarders are expected to grind to a standstill.
August 21st, 2012
On 14 August 2012, Bosnia and Herzegovina deposited its instrument of accession to the International Convention on the Harmonized Commodity Description and Coding System (Harmonized System) with the Secretary General of the World Customs Organization (WCO).
Considering that more than 98% of international merchandise trade is classified in terms of the Harmonized System, the WCO is pleased to welcome Bosnia and Herzegovina as the 144th Contracting Party to the Harmonized System Convention.
Bosnia and Herzegovina is located in Southeastern Europe, on the Balkan Peninsula. It is bordered by Croatia, Serbia and Montenegro, and has a small coastline of 20 kilometers on the Adriatic Sea. Its principal export commodities are metals, clothing and wood products. Machinery and equipment, chemicals, fuels and foodstuffs are its principal import commodities. The Harmonized System Convention will enter into force in Bosnia and Herzegovina on 1 January 2014. Bosnia and Herzegovina has been a Member of the World Customs Organization since 4 July 2008.
August 16th, 2012
Global containerized trade volumes fell in June from May and also in year-over-year comparisons, according to the latest figures from Container Trades Statistics. Volumes shipped worldwide in June totaled 9,949,800 TEUs, a decline of 5.5 percent compared to May and 1.75 percent year-over-year. The only prominent exporting region to witness growth was Europe. Exports from Asia, the world’s largest exporting region, totaled 3,314,700 TEUs in June, off 7 percent from May and 1.5 percent year-over-year. North American imports increased 11.6 percent year-over-year, sub-Saharan Africa demand grew 5.3 percent, and Australasia and Oceania imported 15.3 percent more in June compared to June 2011.
August 14th, 2012
Canada’s merchandise imports rose 2.3% while exports edged up 0.2% in June. As a result, Canada’s trade deficit with the world widened to $1.8 billion in June. Imports continued their upward trend and reached a record high of $40.9 billion in June. Overall, six out of seven sectors registered gains. Exports increased to $39.1 billion.
Imports from the United States grew 3.0% to a record high of $25.9 billion in June, a third consecutive monthly increase. Exports rose 2.2% to $29.0 billion. This narrowed the trade surplus with the United States to $3.1 billion in June. Imports from countries other than the United States increased 1.1% to $15.0 billion. Exports to countries other than the United States fell for the third consecutive month.
August 9th, 2012
eManifest is a major Government of Canada initiative that is changing the way commercial goods being imported into Canada are processed.
Beginning November 1, 2012, highway carriers are mandated to provide electronic cargo and conveyance data to the Canada Border Services Agency (CBSA) in advance of arriving at the Canadian border for customs clearance.
Contact your Freight Forwarders & Customs Broker for mor edetails.
August 7th, 2012
The purpose of this Notice is to advise exporters that, pursuant to the Export and Import Permits Act, the Minister of Foreign Affairs has issued a General Export Permit (GEP) relating to the export or transfer of cryptography for development or production of a product. GEPs are intended to be used to facilitate trade in defined circumstances and are issued generally to all residents of Canada to allow the export or transfer of specified goods and technology that are included in the Export Control List (ECL) to certain specified destinations, subject to terms and conditions.
This notice affects Import / Exports, Freight Forwarders & Customs Brokerage industry.