For additional information relating to this article, please contact:
April 16, 2021WHOLESALE TRADE, FEBRUARY 2021 MONTH-OVER-MONTH (Seasonally adjusted, Feb 2021 vs Jan 2021)
Nova Scotia wholesale trade increased 4.6% from the previous month to $1.08 billion in February 2021. This was the largest monthly gain recorded among all provinces.
Canada wholesale trade declined 0.7% to $68.8 billion.
Seven provinces reported monthly declines in wholesale trade with Prince Edward Island (-8.8%) reporting the largest decline.
YEAR-OVER-YEAR (Feb 2021 vs Feb 2020)
Since the pre-pandemic period in February 2020, Nova Scotia wholesale trade increased 24.2%. In Canada, wholesale trade was up 6.5% when compared to a year earlier.
Wholesale trade reached above pre-pandemic levels in all provinces. The largest gain was recorded in Saskatchewan (+25.3%) followed by Nova Scotia (+24.2%). Alberta (+1.4%) posted the smallest year-over-year gain.
YEAR-TO-DATE (Seasonally adjusted Jan-Feb 2021 vs Jan-Feb 2020)
Nova Scotia wholesale trade increased 15.4% to $2.1 billion in the first two months of 2021.
Canada wholesale trade increased 7.3% to $138.0 billion.
All provinces reported year to date increases in wholesale trade. Saskatchewan (+19.3%) posted the largest gain while Alberta (+4.0%) posted the smallest gain.
NOVA SCOTIA SECTORS (Seasonally adjusted, Jan-Feb 2021 vs Jan-Feb 2020)
Nova Scotia total wholesale trade increased 15.4% ($280.1 million) in the first two months of the year when compared to the same period in 2020. The compositions of the wholesale sector has changed since the start of the pandemic as household changed their consumption habits. Statistics Canada noted that the most visible change was in the durable goods being sold by Canadian wholesalers.
In Nova Scotia, building materials (+30.3%) posted the largest year-to-date increase followed by sales of machinery and equipment (+18.7%). This was similar to the national trend.
The lowest year-to-date gain in Nova Scotia was recorded in motor vehicle and parts (+4.2%). Nationally, sales of motor vehicles and parts were 9.7% lower when compared to the same period in 2020.
Sales of personal and households goods in Nova Scotia declined 3.0% year-to-date.
TRENDS (January 2013 to February 2021)
Nova Scotia's wholesale trade is often volatile from one month to the next. Nova Scotia's wholesale trade has returned to its previous growth trend after the sharp decline brought about by the pandemic of early 2020. A similar pattern has been observed in Canada's wholesale trade, albeit with greater stability from one month to the next.
Wholesale trade in February 2021 was higher than the February pre-pandemic benchmark for all provinces.
NATIONAL WHOLESALE INVENTORIES (Feb 2021 vs Jan 2021)
In Canada, wholesale inventories increased 1.1% to $92.2 billion. Statistics Canada noted that this was the third consecutive monthly increase, and the largest month-over-month increase since June 2019.
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)