What’s on the horizon for wood products in 2017
Wood products have long been a source of economic opportunity for Canada.
And, for the first time in Canada’s history, the country has started to see an increase in wood products, with a major jump in imports last year, according to a government report released Thursday.
Wood products accounted for 19.2% of total trade in goods with the United States in 2017, up from 17.7% in 2016, the government report showed.
Wood accounted for 26.3% of imports, up slightly from 26.1% in 2017.
In Canada, wood products accounted, on average, for about 2.6% of all goods, compared with 2.3%, the report said.
While the trade surplus with the U.S. declined in 2017 to $3.8 billion from $3,800 million, the U .
S. trade deficit with Canada remained relatively steady at $1.4 billion in 2017 and was down slightly from $1,715 million in 2016.
In 2016, Wood Products accounted for just under 20% of the total trade with the world, down from 23% in 2014.
The U. S. trade surplus decreased by 1.4% in the same period, to $1 billion.
Wood products accounted nearly 20% in total imports in 2017 from the United Kingdom, up almost 5% from the previous year.
The trade surplus between Canada and the U States in 2017 was $6.2 billion, compared to $5.8bn in 2016 and $4.6bn in 2015, the report showed, citing Statistics Canada.
The surplus in the U S. increased by $6 billion to $8.6 billion, but the U States trade deficit decreased by $2.2 trillion to $4,037 billion in the year to date.
While wood products made up a small percentage of total imports from the U s in 2016 (7.1%), they accounted for 10.5% of Canadian imports in the last 12 months of 2016.
Wood product exports to Canada increased by almost 2% in that time, to a total of $7.6 million.
In 2017, the United states accounted for more than 40% of wood products shipped to Canada, up 12.1 percentage points from the year before, according the report.
Canada exported wood products to the United Nations’ International Trade Commission for the second year in a row, and wood products were the main commodities traded between the two countries.
Wood products from the British Columbia, Alberta and Ontario regions accounted for roughly two-thirds of total U. s wood products exported to Canada in 2017 according to Statistics Canada data, while they accounted to one-quarter of total exports to the US. in 2017 after accounting for just 9% in both 2016 and 2015.