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January 15, 2026WHOLESALE TRADE, NOVEMBER 2025 The wholesale trade data reported below now excludes petroleum, petroleum products, and other hydrocarbons as well as oilseed and grain.
Monthly (seasonally adjusted, November 2025 vs September 2025)
Nova Scotia wholesale trade declined 2.6% to $1.249 billion. National wholesale trade decreased 1.8% to $84.45 billion. Six provinces reported increases in November with Prince Edward Island reporting the fastest gain, while Ontario reported the steepest decline (followed by Nova Scotia).
Year-over-year (seasonally adjusted, November 2025 vs November 2024)
Nova Scotia wholesale trade grew 0.8% in November when compared with the same month last year. Canada's wholesale trade grew 1.0% year-over-year. Nine provinces reported year-over-year increases in wholesale trade led by Saskatchewan, with Onatrio reporting the only decline.
Year-to-date (January-November 2025 vs January-November 2024)
Nova Scotia wholesale trade increased 5.6% in the first eleven months of 2025 compared to the same period of 2024. Canada's wholesale trade increased 3.0%. All provinces reported year-to-date increases in wholesale trade. Newfoundland and Labrador reported the fastest gain while Prince Edward Island, Ontario, Manitoba and Saskatchewan all reported slower growth.
Food and beverage wholesale represents the largest share of Nova Scotia's reported wholesale trade categories, followed by building materials.
Motor vehicles and parts saw the largest percentage increase in year-to-date wholesale trade, while miscellaneous wholesale merchant sales were down.
Trends
National wholesale trade (excluding petroleum products and oilseed and grains) has slowed in 2025. Nova Scotia's growth has been stronger than the national pace, but more volatile from one month to the next.
Wholesale inventories as a share of sales have increased in 2025, growing to a value of 1.61 in November 2025.
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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