Canadian exports to South Korea fell 63.1 per cent in July, compared with July 2022
Statistics Canada data backs up what many expected: B.C.'s July port strike hurt the country's imports and exports.
When the data are adjusted for seasonality, widespread declines in overall imports from countries on the Pacific Rim—such as China, Taiwan, South Korea, Peru and Japan—were seen in July on a balance-of-payments basis, according to Statistics Canada. "A lot of the declines were around coal markets, as well natural resource markets, that we do ship to," said Central 1 chief economist Bryan Yu.
Nonetheless, imports of goods that typically arrive through B.C. marine ports, such as consumer goods, electronic products and industrial machinery and equipment, were down, he said.
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