In 2022, surging commodity prices pushed Alberta's International merchandise exports to an all-time high of $205 billion.

As prices eased, a moderation in export revenue followed, but Alberta still accounts for a quarter of Canada’s merchandise exports and is second only to Ontario in this regard.

What’s more, according to new Statistics Canada data, the value of Alberta’s merchandise exports was $120.8 billion over the first eight months of 2024, 3.2% higher from the same period last year.

National exports were up by a more modest 0.7% year-to-date (YTD) with Alberta providing the largest boost.

Up 5% YTD, energy products are the largest sub-sector in Alberta and bolstered the aggregate gain. Energy exports have benefited from higher crude oil and natural gas production.

Non-energy exports were down by 2.3% YTD with farm, fishing and intermediate food products—the second largest sub-sector—continuing to pull back from the record highs seen last year as crop prices have eased. There is some uncertainty here going forward as Alberta farmers brace for the potential impact of the anti-dumping investigation of Canadian canola announced by the Chinese government last month.

Supported by improved market access for oil and gas, we expect Alberta’s export sector to continue to drive economic growth in the province next year.

Answer to the previous trivia question: The Edmonton Oilers and Calgary Flames play one another only three times during the 2024-25 regular NHL season (once in Calgary, twice in Edmonton).

Today’s trivia question: What is the name of the agreement that formed the basis of the modern international trade system after World War II?