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August 16, 2021WHOLESALE TRADE, JUNE 2021 With June reference month results, year-over-year (Jun 2021 vs Jun 2020) and year-to-date (Jan-Jun 2021 vs Jan-Jun 2020) show rebounds in economic activity from the unprecedented declines observed in the first wave of the of the COVID-19 pandemic.
MONTH-OVER-MONTH (seasonally adjusted, Jun 2021 vs May 2021)
Nova Scotia wholesale trade decreased 3.4% to $1,130.7 million and Canada wholesale trade decreased 0.8% to $71.5 billion.
Four provinces reported monthly increases in wholesale trade, with Prince Edward Island (3.6 %) reporting the largest gain and Newfoundland and Labrador (-4.5 %) reporting the largest decline.
YEAR-OVER-YEAR (seasonally adjusted, Jun 2021 vs Jun 2020)
In percentage terms, Nova Scotia wholesale trade increased 27.1% and Canada wholesale trade increased 14.7%.
YEAR-TO-DATE (seasonally adjusted, Jan-Jun 2021 vs Jan-Jun 2020)
Nova Scotia wholesale trade increased 35.6% to $6.8 billion and Canada wholesale trade increased 19.5% to $425.3 billion.
All provinces reported year to date increases in wholesale trade, with Nova Scotia (35.6%) reporting the largest gain and Saskatchewan (10.1%) reporting the smallest increase.
QUARTER over QUARTER (seasonally adjusted, 2021Q2 vs 2021Q1)
Nova Scotia wholesale trade increased 6.8% to $3.5 billion and Canada wholesale trade increased 2.6% to $215.3 billion.
New Brunswick (+14.5%) reported the largest quarter-over-quarter increase and Saskatchewan reported the largest decline (-4.4%).
NOVA SCOTIA SECTORS (seasonally adjusted, Jan-Jun 2021 vs Jan-Jun 2020)
Nova Scotia total wholesale trade increased 35.6% ($1,775.0 million).
All categories were up, with the largest contributions to overall gain coming from food and beverage, building materials and motor vehicles and parts.
TRENDS ( January 2013 to June 2021)
Wholesale trade in June 2021 was substantially higher than the February 2020 pre-pandemic benchmark for all provinces except Ontario (1.9%) and Manitoba (4.8%).
While Ontario reached pre-pandemic levels by Oct-20, wholesale growth has slowed. Manitoba reached pre-pandemic levels in Jul-20 but has seen little growth in the following months.
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INVENTORIES (Canada Jun 2021 vs May 2021)
National inventories decreased 0.6% to $94.6 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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