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September 16, 2022WHOLESALE TRADE, JULY 2022 Month-over-month (seasonally adjusted, July 2022 vs June 2022)
Nova Scotia wholesale trade increased 12.1% to $1.21 billion in July 2022. Canada wholesale trade decreased 0.6% to $80.2 billion. Six provinces reported monthly increases in wholesale trade, with Nova Scotia reporting the largest gain while Alberta and Quebec reported the largest declines.
Year-over-year (July 2022 vs July 2021)
Nova Scotia wholesale trade was up 10.4% compared to July 2021. Canada wholesale trade increased 12.9% over this period with gains in all provinces except Newfoundland and Labrador. Saskatchewan reported the largest increase over this time period.
Year-to-date (January-July 2022 vs January-July 2021)
Nova Scotia wholesale trade increased 3.0%. Canada wholesale trade increased 13.2%. All provinces except Newfoundland and Labrador reported year to date increases. Saskatchewan reported the largest year-to-date gains in wholesale trade.
The largest dollar contributions to Nova Scotia's rising wholesale trade came from miscellaneous wholesalers as well as building materials. Wholesale trade in food and beverage as well as motor vehicles/parts were both down.
TRENDS
Nova Scotia's wholesale trade rebounded sharply from the pandemic decline, rising much more quickly than the national average in early 2021. Over the past year, Nova Scotia's wholesale trade has returned to the national trend. In the past 2 months, there has been volatility in Nova Scotia's wholesale trade with a sharp decline in June followed by a large recovery in July.
National wholesale inventories increased 1.2% from June to July 2022. The national ratio of inventories to sales increased from 1.49 in June to 1.51 in July 2022.
Source: Statistics Canada. Table 20-10-0074-01 Wholesale trade, sales (x 1,000); Table 20-10-0076-01 Wholesale trade, inventories (x 1,000)
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