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September 17, 2021WHOLESALE TRADE, JULY 2021 With June reference month results, year-over-year (Jul 2021 vs Jul 2020) and year-to-date (Jan-Jul 2021 vs Jan-Jul 2020) show rebounds in economic activity from the unprecedented declines observed in the first wave of the of the COVID-19 pandemic.
MONTH-OVER-MONTH (seasonally adjusted, Jul 2021 vs Jun 2021)
Nova Scotia wholesale trade decreased 5.9% to $1,071.5 million and Canada wholesale trade decreased 2.1% to $70.1 billion.
Seven provinces reported monthly decreases in wholesale trade, with Quebec and Nova Scotia reporting the largest declines. Wholesale trade was up only in Manitoba, Saskatchewan and Ontario.
YEAR-OVER-YEAR (seasonally adjusted, Jul 2021 vs Jul 2020)
Nova Scotia's wholesale trade increased 15.9% while national wholesale trade was up 8.0%. There were year-over-year gains in wholesale trade for every province. Prince Edward Island and New Brunswick reported the largest gains while Manitoba's increase was the smallest.
YEAR-TO-DATE (seasonally adjusted, Jan-Jul 2021 vs Jan-Jul 2020)
Nova Scotia's wholesale trade increased 32.7% while Canada's wholesale trade increased 17.7%.
All provinces reported year to date increases in wholesale trade, with Prince Edward Island and Nova Scotia reporting the largest gains while the prairie provinces reported the smallest increases.
NOVA SCOTIA SECTORS (seasonally adjusted, Jan-Jul 2021 vs Jan-Jul 2020)
Compared with the first seven months of 2020, all Nova Scotia wholesale trade categories were up. The largest contributions to the overall gain came from food and beverage, building materials and motor vehicles/parts.
TRENDS
Nova Scotia's wholesale trade rebounded sharply from the pandemic decline, rising much more quickly than the national average in early 2021. Since then, Nova Scotia wholesale merchant sales have declined, but remained above the national trend.
Source: Statistics Canada. Table 20-10-0074-01 Wholesale trade, sales (x 1,000)
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