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February 21, 2023RETAIL TRADE, DECEMBER AND ANNUAL 2022 MONTH OVER MONTH (seasonally adjusted December 2022 vs. November 2022)
In Nova Scotia retail trade decreased 1.0% to $1.69 billion. Nationally, retail trade increased 0.5% to $62.1 billion. Six provinces reported declining retail sales in November, led by declines in British Columbia, Nova Scotia and New Brunswick. Alberta reported the largest increase.
YEAR OVER YEAR (seasonally adjusted December 2022 vs. December 2021)
Nova Scotia's retail trade increased 8.5% compared with December 2021. Nationally, retail trade increased 7.3%. All provinces reported year-over-year increases in retail trade, with Manitoba and Prince Edward Island reporting the largest gains. British Columbia reported the smallest increase.
ANNUAL (2022 vs 2021)
Nova Scotia retail trade increased 6.4%. Nationally, retail trade increased 8.2%. All provinces reported annual increases in retail trade, with Ontario reporting the largest gain. British Columbia reported the smallest gain.
The largest dollar contributions to rising retail sales came from gas stations, general merchandise stores and health and personal care stores. In percentages terms, health and personal care, clothing and gas stations reported the fastest retail sales growth. Motor vehicles and parts as well as electronics and appliances reported falling retail sales in 2022.
Trends
Nova Scotia's retail sales followed national trends (albeit with more volatility) prior to and during the pandemic. Since the last major pandemic-related restrictions were eased in 2021, Nova Scotia's retail sales have outpaced national retail sales growth.
Nova Scotia's overall retail sales in 2022 amounted to $19.75 billion, up from $18.57 billion in 2021.
Nova Scotia's growth in retail sales in 2021 and 2022 has more than offset the decline experienced in 2020.
E-Commerce
In December 2022, Canada's ecommerce sales decreased -5.7% to $3.34 billion, or 5.4% of total retail sales.
Source: Statistics Canada. Table 20-10-0008-01 Retail trade sales by province and territory (x 1,000); Table 20-10-0072-01 Retail e-commerce sales (x 1,000)
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