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December 16, 2021WHOLESALE TRADE, OCTOBER 2021 With October reference month results, year-over-year (Oct 2021 vs Oct 2020) and year-to-date (Jan-Oct 2021 vs Jan-Oct 2020) show rebounds in economic activity from the unprecedented declines observed in the first wave of the COVID-19 pandemic.
MONTH-OVER-MONTH (seasonally adjusted, Oct 2021 vs Sep 2021)
In percentage terms, Nova Scotia wholesale trade decreased 7.7% to $1,036.7 million, and Canada wholesale trade increased 1.4% to $72.5 billion.
Five provinces reported monthly increases in wholesale trade, with Saskatchewan (6.8%) reporting the largest gain, and Prince Edward Island (-10.3%) reporting the largest decline.
YEAR-OVER-YEAR (seasonally adjusted, Oct 2021 vs Oct 2020)
In percentage terms, Nova Scotia wholesale trade increased 8.4%, and Canada wholesale trade increased 8.4%.
YEAR-TO-DATE (seasonally adjusted, Jan-Oct 2021 vs Jan-Oct 2020)
Nova Scotia wholesale trade increased 26.3% to $11.0 billion, and Canada wholesale trade increased 14.6% to $710.1 billion.
All provinces reported year to date increases in wholesale trade, with Prince Edward Island (36.9%) reporting the largest gain, and Manitoba (7.0%) reporting the smallest increase.
NOVA SCOTIA SECTORS (seasonally adjusted, Jan-Oct 2021 vs Jan-Oct 2020)
Nova Scotia total wholesale trade increased 26.3% (+$2,302.1 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 October 2021)
Nova Scotia's wholesale trade rebounded sharply from the pandemic decline, rising much more quickly than the national average in early 2021. From May 2021 to August 2021, Nova Scotia wholesale merchant sales declined. In October 2021, Nova Scotia's wholesale trade declined again, but remained above the national trend.
INVENTORIES (Canada Oct 2021 vs Sep 2021)
National inventories increased 1.1% to $99.2 billion.
Source: Statistics Canada. Table 20-10-0074-01 Wholesale trade, sales (x 1,000)
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