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October 15, 2021WHOLESALE TRADE, AUGUST 2021 With August reference month results, year-over-year (Aug 2021 vs Aug 2020) and year-to-date (Jan-Aug2021 vs Jan-Aug 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, Aug 2021 vs Jul 2021)
In percentage terms, Nova Scotia wholesale trade decreased 5.3% to $1,011.1 million, and Canada wholesale trade increased 0.3% to $70.3 billion.
Three provinces reported monthly increases in wholesale trade, with Prince Edward Island (7.1%) reporting the largest gain, and Newfoundland and Labrador(5.7%) reporting the largest decline.
YEAR-OVER-YEAR (seasonally adjusted, Aug 2021 vs Aug 2020)
In percentage terms, Nova Scotia wholesale trade increased 5.6%, and Canada wholesale trade increased 7.3%.
YEAR-TO-DATE (seasonally adjusted, Jan-Aug 2021 vs Jan-Aug 2020)
Nova Scotia wholesale trade increased 28.9% to $8.9 billion, and Canada wholesale trade increased 16.4% to $565.9 billion.
All provinces reported year to date increases in wholesale trade, with Prince Edward Island (36.7%) reporting the largest gain and Manitoba (7.8%) reporting the smallest increase.
NOVA SCOTIA SECTORS (seasonally adjusted, Jan-Aug 2021 vs Jan-Aug 2020)
Nova Scotia total wholesale trade increased 28.9% ($1,985.3 million). All categories were up, with the largest contributions to overall gain coming from food and beverrage, building materials and motor vehicles and 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.
INVENTORIES (Canada Aug 2021 vs Jul 2021)
National inventories increased 1.7% to $97.3 billion.
Source: Statistics Canada. Table 20-10-0074-01 Wholesale trade, sales (x 1,000)
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