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December 16, 2022WHOLESALE TRADE, OCTOBER 2022 MONTH-OVER-MONTH (seasonally adjusted, October 2022 vs September 2022)
Nova Scotia wholesale trade increased 8.7% to $1.18 billion. Canada wholesale trade increased 2.1% to $83.44 billion. All ten provinces reported an increase with Prince Edward Island showing gains. Ontario reported the smallest gains in wholesale trade in October 2022.
YEAR-OVER-YEAR (seasonally adjusted, September 2022 vs September 2021)
Nova Scotia wholesale trade decreased 9.6%. Canada wholesale trade increased 11.2%. All provinces reported year over year increases in wholesale trade. Saskatchewan reported the largest gain and Newfoundland and Labrador reported the smallest increase.
Year-to-date (January-September 2022 vs January-September 2021)
Nova Scotia wholesale trade increased 4.0%. Canada wholesale trade increased 13.0%. All provinces reported year to date increases (Newfoundland and Labrador's increase was marginal). Saskatchewan reported the largest year-to-date gains in wholesale trade.
The largest dollar contributions to Nova Scotia's to wholesale trade came from food and beverage wholesalers as well as building materials wholesalers. Wholesale trade in farm products and personal/household goods contributed the least.
The largest percentage contributions to Nova Scotia's to wholesale trade came from miscellaneous wholesalers. Wholesale trade in food and beverage and motor vehicle/parts reported year-to-date declines over the same period last year.
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 4 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 continued decline in September and recovery in October.
National wholesale inventories only increased 0.7 billion from September to October 2022. The national ratio of inventories to sales declined from 1.53 in September back to 1.51 in October 2022.
National wholesale inventories only increased 0.7 billion from September to October 2022. The national ratio of inventories to sales declined from 1.53 in September back to 1.51 in October 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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