According to new Statistics Canada data, the value of Alberta’s international merchandise exports picked up for the second consecutive month to reach $16.3 billion in November 2023, up 2.3% from October.

After a pullback in the first half, export revenues have reversed course to reach their highest monthly level since December 2022.

Driven mainly by a pick up in export volumes, energy products (+3.6%) were entirely responsible for the aggregate monthly gain. Non-energy exports, on the other hand, took a breather for the first time in five months, falling by 2.2%.

Weighed down by lower commodity prices, Alberta’s export revenues have come off last year’s record highs, falling 14.9% year-to-date (YTD) from the first eleven months of 2022.

Nationally, exports eased slightly in November, but reported a more modest decline of 2% on a YTD basis due to their lower exposure to volatile commodity price.

The export story this year has been higher volumes sold at lower prices. Even still, the value of Alberta's exports should come in at the second highest on record (after 2022).

Answer to the previous trivia question: At $2,866 per month, Vancouver had the highest average asking rent for a one bedroom apartment in December 2023.

Today’s trivia question: What is the name of the pamphlet calling for the independence of the American colonies written by Thomas Paine that was published on this day in 1776?