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October 14, 2022WHOLESALE TRADE, AUGUST 2022 MONTH-OVER-MONTH (seasonally adjusted, August 2022 vs July 2022)
Nova Scotia wholesale trade decreased 1.5% to $1.21 billion. Canada wholesale trade increased 1.4% to $81.3 billion. Six provinces reported monthly increases in wholesale trade, with Alberta reporting the largest gain, with Saskatchewan and Prince Edward Island reporting the largest declines.
YEAR-OVER-YEAR (seasonally adjusted, August 2022 vs August 2021)
Nova Scotia wholesale trade increased 15.0%. Canada wholesale trade increased 13.3%. Nine provinces reported year over year increases in wholesale trade. Saskatchewan reported the largest gain and Prince Edward Island reported the only decline.
Year-to-date (January-August 2022 vs January-August 2021)
Nova Scotia wholesale trade increased 4.6%. Canada wholesale trade increased 13.2%. All provinces except Newfoundland and Labrador reported year to date increases. Saskatchewan reported the largest year-to-date gains in wholesale trade.
The largest dollar contributions to Nova Scotia's rising wholesale trade came from miscellaneous wholesalers as well as building materials and machinery/equipment. Wholesale trade in food and beverage as well as motor vehicles/parts were both down.
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TRENDS
Nova Scotia's wholesale trade rebounded sharply from the pandemic decline, rising much more quickly than the national average in early 2021. Over the past year, Nova Scotia's wholesale trade has returned to the national trend. In the past 3 months, there has been volatility in Nova Scotia's wholesale trade with a sharp decline in June followed by a large recovery in July, and a small decline in August.
National wholesale inventories increased 1.8 billion from July to August 2022. The national ratio of inventories to sales only increased from 1.515 in July to 1.516 in August 2022.
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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