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January 19, 2023WHOLESALE TRADE, NOVEMBER 2022 MONTH-OVER-MONTH (seasonally adjusted, November 2022 vs October 2022)
Nova Scotia wholesale trade decreased 1.7% to $1.2 billion. Canada wholesale trade increased 0.5% to $83.8 billion. Five provinces reported an increase with Ontario and Newfoundland and Labrador leading the way. Saskatchewan reported the largest decline in wholesale trade in November 2022.
YEAR-OVER-YEAR (seasonally adjusted, November 2022 vs November 2021)
Nova Scotia wholesale trade increased 7.6%. Canada wholesale trade increased 8.4%. All provinces reported year over year increases in wholesale trade. Saskatchewan reported the largest gain and New Brunswick reported the smallest increase.
Year-to-date (January-November 2022 vs January-November 2021)
Nova Scotia wholesale trade increased 4.4%. Canada wholesale trade increased 12.6%. All provinces reported year to date increases. Saskatchewan reported the largest year-to-date gains in wholesale trade, and Newfoundland and Labrador the smallest gain.
The largest dollar contributions to Nova Scotia's to wholesale trade came from food and beverage wholesalers as well as building materials wholesalers. Wholesale trade in farm products and personal/household goods contributed the least.
The largest percentage contributions to Nova Scotia's to wholesale trade came from miscellaneous wholesalers. Wholesale trade in food and beverage reported the only year-to-date declines over the same period last year.
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 5 months, there has been volatility in Nova Scotia's wholesale trade with a sharp decline in June followed by a large recovery in July, a continued decline in September, recovery in October, followed by another decline in November.
National wholesale inventories decreased 0.64 billion from October to November 2022. The national ratio of inventories to sales declined from 1.51 in October back to 1.50 in November 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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