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May 14, 2021WHOLESALE TRADE, MARCH 2021 MONTH-OVER-MONTH (seasonally adjusted, Mar 2021 vs Feb 2021)
With March reference month results, year-over-year (Mar 2021 vs Mar 2020) and year-to-date (Jan-Mar21 vs Jan-Mar20) are beginning to show the rebounds in economic activity from the unprecedented declines observed at the start of the COVID-19 pandemic.
In percentage terms, Nova Scotia wholesale trade increased 3.5% to $1,103.5 million, and Canada wholesale trade increased 2.8% to $70.9 billion.
Nine provinces reported monthly increases in wholesale trade, with Quebec (8.8%) reporting the largest gain and New Brunswick (0.3%) reporting the only decline.
YEAR-OVER-YEAR (seasonally adjusted, Mar 2021 vs Mar 2020)
In percentage terms, Nova Scotia wholesale trade increased 33.3%, and Canada wholesale trade increased 12.8%.
YEAR-TO-DATE (seasonally adjusted, Jan-Mar 2021 vs Jan-Mar 2020)
Nova Scotia wholesale trade increased 23.4% to $3.2 billion, and Canada wholesale trade increased 8.9% to $209.5 billion.
Ten provinces reported year to date increases in wholesale trade, with Nova Scotia (23.4%) reporting the largest gain, and Ontario (5.4%) reporting the smallest increasee.
QUARTER vs QUARTER (seasonally adjusted, 2021Q1 vs 2020Q4)
Nova Scotia wholesale trade increased 10.2% to $3.2 billion, and Canada wholesale trade increased 3.9% to $209.5 billion.
Ten provinces reported quarter over quarter increases with Prince Edward Island (13.5 %) reporting the largest gain and Manitoba (1.4 %) reported the smallest gain.
NOVA SCOTIA SECTORS (seasonally adjusted, Jan-Mar 2021 vs Jan-Mar 2020)
Nova Scotia total wholesale trade increased 23.4% ($610.5 million).
- Personal and household goods increased 5.9% ($5.5 million).
- Motor vehicle and parts increased 18.9% ($86.1 million).
- Building material increased 36.3% ($180.4 million).
- Machinery, equipment increased 28.8% ($116.9 million).
- Miscellaneous wholesalers increased 15.7% ($32.8 million).
- Farm products increased 7.8% ($3.3 million).
TRENDS ( January 2013 to March 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 March 2021 was higher than the February pre-pandemic benchmark for all provinces with Ontario (3.0%) posting the smallest gain, and Nova Scotia the greatest gain (31.5%). In Canada wholesale trade increased 8.9% over the February 2020 to March 2021.
INVENTORIES (Mar 2021 vs Feb 2021)
Wholesale inventories for Canada increased 0.7% to $93.1 billion.
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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