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June 16, 2021WHOLESALE TRADE, APRIL 2021 With April reference month results, year-over-year (Apr 2021 vs Apr 2020) and year-to-date (Jan-Apr21 vs Jan-Apr20) show rebounds in economic activity from the unprecedented declines observed in the first wave of the COVID-19 pandemic.
MONTH-OVER-MONTH (seasonally adjusted, Apr 2021 vs Mar 2021)
In percentage terms, Nova Scotia wholesale trade increased 6.2% to $1,196.5 million, and Canada wholesale trade increased 0.4% to $71.5 billion.
Seven provinces reported monthly increases in wholesale trade, with New Brunswick (14.0 %) reporting the largest gain. Ontario and Saskatchewan (-1.9 %) reported the greatest declines.
YEAR-OVER-YEAR (seasonally adjusted, Apr 2021 vs Apr 2020)
In percentage terms, all the provinces reported year over year gains with Nova Scotia 78.7% reporting the greatest increase and Saskatchewan (9.5%) reporting the smallest gain. Canada wholesale trade increased 45.9%.
YEAR-TO-DATE (seasonally adjusted, Jan-Apr 2021 vs Jan-Apr 2020)
Nova Scotia wholesale trade increased 35.8% to $4.5 billion, and Canada wholesale trade increased 16.6% to $281.5 billion.
All ten provinces reported year to date increases in wholesale trade, with Nova Scotia (35.8 %) reporting the largest gain and Alberta (10.7 %) reported the smallest gain.
NOVA SCOTIA SECTORS (seasonally adjusted, Jan-Apr 2021 vs Jan-Apr 2020)
Nova Scotia total wholesale trade increased 35.8% ($1,174.1 million).
- Food and beverage increased 37.0% ($421.4 million).
- Building material increased 45.8% ($291.3 million).
- Motor vehicle and parts increased 38.3% ($198.0 million).
- Machinery, equipment increased 30.6% ($165.1 million).
- Miscellaneous wholesalers increased 27.4% ($74.7 million).
- Personal and household goods increased 10.8% ($13.0 million).
- Farm products increased 19.3% ($10.6 million).
TRENDS ( January 2013 to April 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 April 2021 was higher than the February pre-pandemic benchmark for all provinces. Ontario’s wholesale trade had returned to February 2020 levels as of October 2020, but growth has since stagnated to only 1.3% above February 2020 levels. Most provinces have exhibited at least double digit increases above the pre-pandemic benchmark.
INVENTORIES (Apr 2021 vs Mar 2021)
Wholesale inventories increased $4.2 million to $93.4 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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