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February 15, 2024MANUFACTURING SHIPMENTS, DECEMBER AND ANNUAL 2023 Monthly (seasonally adjusted, December 2023 vs November 2023)
Nova Scotia's manufacturing shipments increased 0.1% to $893.7 million. National shipments decreased 0.7% to $71.2 billion. Manufacturing shipments were up in 6 of 10 provinces. New Brunswick had the largest percentage gain while Newfoundland and Labrador had the largest decline.
Year-over-year (December 2023 vs December 2022)
Nova Scotia's manufacturing shipments increased 1.6%. National shipments edged up 0.1%. Manufacturing shipments were up in 6 out of 10 provinces. Newfoundland and Labrador reported the largest decline while Prince Edward Island posted the largest percentage increase.
Annual (2023 vs 2022)
Nova Scotia's manufacturing shipments decreased 1.0% in 2023. National shipments increased 1.1% with declines in 6 of 10 provinces. Prince Edward Island reported the largest increase while Newfoundland and Labrador reported the steepest decline.
Nova Scotia's durable goods shipments increased 2.0%, while non-durable goods shipments decreased 2.4% in 2023. In Halifax, annual durable goods shipments increased 3.8%, while non-durables increased 1.1%. Outside Halifax, durable goods shipments were little changed, while non-durables decreased 3.2%.
Trends
Periodic spikes in Nova Scotia's shipments values are not uncommon. Throughout 2023, manufacturing shipments were stable, with volatility at both the national and provincial levels.
Nova Scotia's annual manufacturing shipments of $10.72 billion were a $103 million decline from their level in 2022. With the exception of the pandemic-related decline in 2020, Nova Scotia's manufacturing shipments had increased in value in every year from 2015 to 2022.
Statistics Canada. Table 16-10-0047-01 Manufacturers' sales, inventories, orders and inventory to sales ratios, by industry (dollars unless otherwise noted); Table 16-10-0048-01 Manufacturing sales by industry and province, monthly (dollars unless otherwise noted) (x 1,000); Table 16-10-0011-01 Manufacturing sales, by industry for 12 Selected Census Metropolitan Areas (x 1,000)
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