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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

December 13, 2024
WHOLESALE TRADE, OCTOBER 2024

Monthly (seasonally adjusted, October 2024 vs September 2024)

Nova Scotia wholesale trade increased 1.3% to $1.33 billion. National wholesale trade grew 3.3% to $119.8 billion. Every province except Newfoundland and Labrador reported an increase in October, with Alberta reporting the largest gain.

                                                 

Year-over-year (seasonally adjusted, October 2024 vs October 2023)

Nova Scotia wholesale trade increased 3.2% in October when compared with the same month last year, while Canada's wholesale trade declined 4.3%.  Seven provinces reported higher year-over-year wholesale trade with Manitoba reporting the largest increase. Alberta reported the fastest year-over-year decline in wholesale trade.

Year-to-date (January-October 2024 vs January-October 2023)

Nova Scotia wholesale trade increased 8.9% in the first ten months of 2024 compared to the same period of 2023. Canada's wholesale trade increased 4.3%. Seven  provinces reported year-to-date increases in wholesale trade. Newfoundland and Labrador reported the largest gain, while  Saskatchewan reported the largest decline.

TRENDS 

In 2024, volatility in Nova Scotia's wholesale trade has smoothed out, with a declining trend in recent months. Canada reported a very large increase as the data series was changed to include petroleum products, but has tracked down in recent months.

After the break in the data series with the inclusion of petroleum products in March 2023, wholesale inventories trended down. In recent months, wholesale inventories as a share of sales have been volatile around a stable trend, with a value of 1.18 in October 2024.

Note: Starting with the March 2023 reference month, petroleum products data are available within Statistics Canada's data on wholesale trade. This distorts 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.

Due to suppression of data in food and beverage wholesalers for Nova Scotia (the largest category), year-to-date results by category will not be available.

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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