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February 14, 2025MANUFACTURING SHIPMENTS, DECEMBER AND ANNUAL 2024 Monthly (seasonally adjusted, December 2024 vs November 2024)
Nova Scotia's manufacturing shipments increased 1.8% to $968.1 million. National shipments increased 0.3% to $71.4 billion.
Manufacturing shipments were up in six provinces. Newfoundland and Labrador reported the largest monthly increase in manufacturing shipments while Saskatchewan reported the largest decrease.
Year-over-year (December 2024 vs December 2023)
Nova Scotia's manufacturing shipments increased by 3.8% compared to the same month last year in 2023. National shipments increased 0.3%. Seven provinces reported increases, led by Newfoundland and Labrador. Saskatchewan reported the steepest year-over-year decline.
ANNUAL (2024 vs 2023)
Nova Scotia's manufacturing shipments increased 4.5% in 2024. National shipments decreased 2.1% with gains in six provinces. Newfoundland and Labrador reported the largest increase while Saskatchewan reported the steepest decline.
Non-durable goods shipments from areas outside Halifax account for the largest portion of Nova Scotia's manufacturing output.
Nova Scotia's durable goods shipments decreased 3.6%, while non-durable goods shipments increased 9.6% in 2024. In Halifax, 2024 durable goods shipments decreased 17.0%, while non-durables decreased 1.2%. Outside Halifax, durable goods shipments increased 13.1%, while non-durables increased 11.9%
Trends
Periodic spikes in Nova Scotia's shipments values are not uncommon. Throughout 2024, manufacturing shipments were stable, with volatility at both the national and provincial levels.
Nova Scotia's annual manufacturing shipments of $11.9 billion were a $513 million increase from their level in 2023. 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 2024.
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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