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August 16, 2023WHOLESALE TRADE, JUNE 2023 NOTE
Starting with the March 2023 reference month, petroleum products data are available within Statistics Canada's data on wholesale trade. This distorts year-over-year and year-to-date comparisons as well as the national inventory to sales ratio. The effect causes data for oil-producing regions to increase more rapidly than in other provinces.
Monthly (seasonally adjusted, June 2023 vs May 2023)
Nova Scotia wholesale trade decreased 11.5% to $1.11 billion. This was the largest decline in wholesale trade among the provinces. National wholesale trade decreased 2.5% to $126.38 billion in June. Five provinces reported an increase, led by New Brunswick.
Year-over-year (seasonally adjusted, June 2023 vs June 2022)
Nova Scotia wholesale trade increased 2.9% - the slowest gain among provinces. Canada's wholesale trade increased 56.8% with the recent inclusion of petroleum, oil seeds and grains in the data series. All ten provinces reported year over year increases in wholesale trade. Alberta, Manitoba and New Brunswick reported the largest gains.
Year-to-date (January-June 2023 vs January-June 2022)
Nova Scotia wholesale trade increased 5.4% in the first half of the year - the slowest gain among provinces. Canada's wholesale trade increased 40.9% (including petroleum, oil seeds and grains). All provinces reported year to date increases. The prairie provinces reported the largest year-to-date gains in wholesale trade.
The largest dollar contributions to Nova Scotia's to wholesale trade came from food and beverage wholesalers as well as building materials wholesalers.
The largest percentage contributions to Nova Scotia's to wholesale trade growth came from motor vehicle and parts wholesalers, and machinery/equipment wholesalers. Miscellaneous wholesalers, building material wholesalers and food/beverage wholesalers reported year-to-date declines over the same period last year.
TRENDS
Over the past year, there has been high volatility in Nova Scotia's wholesale trade with several large declines and recoveries. Canada reported a very large increase as the data series was changed to include petroleum products in the last three months.
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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