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January 19, 2022WHOLESALE TRADE, NOVEMBER 2021 With November reference month results, year-over-year (Nov 2021 vs. Nov 2020) and year-to-date (Jan-Nov 2021 vs. Jan-Nov 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, Nov 2021 vs. Oct 2021)
Nova Scotia wholesale trade increased 1.7% to $1,087.1 million, and Canada wholesale trade increased 3.5% to $75.6 billion. Seven provinces reported monthly increases in wholesale trade, with Alberta reporting the largest gain, and Prince Edward Island reporting the largest decline.
YEAR-OVER-YEAR (seasonally adjusted, Nov 2021 vs. Nov 2020)
Nova Scotia wholesale trade increased 12.9%, and Canada wholesale trade increased 11.9%.
YEAR-TO-DATE (seasonally adjusted, Jan-Nov 2021 vs. Jan-Nov 2020)
Nova Scotia wholesale trade increased 25.3% to $12.2 billion, and Canada wholesale trade increased 14.5% to $786.5 billion. All provinces reported year to date increases in wholesale trade, with Prince Edward Island reporting the largest gain and Manitoba reporting the smallest increase.
NOVA SCOTIA SECTORS (seasonally adjusted, Jan-Nov 2021 vs. Jan-Nov 2020)
Nova Scotia total wholesale trade increased 25.3% ($2,457.0 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 November 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 Nova Scotia November 2021, wholesale trade returned to positive growth, and remained above the national trend.
INVENTORIES (Canada Nov 2021 vs. Oct 2021)
National inventories increased 4.3% to $103.5 billion.
Source: Statistics Canada. Table 20-10-0074-01 Wholesale trade, sales (x 1,000)
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