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February 15, 2023WHOLESALE TRADE, DECEMBER AND ANNUAL 2022 MONTH-OVER-MONTH (seasonally adjusted, December 2022 vs November 2022)
Nova Scotia wholesale trade decreased 8.0% to $1.03 billion. Canada wholesale trade decreased 0.8% to $82.17 billion. Six provinces reported a decline in wholesale trade with Newfoundland and Labrador reporting the largest decline in December. Saskatchewan and New Brunswick led in month over month growth.
YEAR-OVER-YEAR (seasonally adjusted, December 2022 vs December 2021)
Nova Scotia wholesale trade decreased 10.9%. Canada wholesale trade increased 5.2%. Seven provinces reported year over year increases in wholesale trade. Saskatchewan reported the largest gain and Nova Scotia reported the largest decrease.
Annual (2022 vs 2021)
Nova Scotia wholesale trade increased 2.6%. Canada wholesale trade increased 11.8%. All provinces reported an annual increase. Saskatchewan reported the largest annual gain in wholesale trade, and Newfoundland and Labrador the smallest gain.
The largest categories of wholesale trade in 2022 were food and beverage wholesalers, building materials wholesalers, and machinery and equipment wholesalers.
The largest percentage increase was in miscellaneous wholesalers. Wholesale trade in food and beverage reported the largest annual decline over 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 and in recent months has been on a downward trend.
National wholesale inventories increased 0.68 billion from November to December 2022. The national ratio of inventories to sales grew from 1.52 in November to 1.54 in December 2022.
Nova Scotia's wholesale trade has continued to grow and in 2022 reached $13.6 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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