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April 17, 2023WHOLESALE TRADE, FEBRUARY 2023 MONTH-OVER-MONTH (seasonally adjusted, February 2023 vs January 2023)
Nova Scotia wholesale trade decreased 1.4% to $1.21 billion. Canada wholesale trade decreased 1.7% to $85.6 billion. Seven of ten provinces reported a decrease. Newfoundland and Labrador reported the largest decline while Prince Edward Island reported the largest increase.
YEAR-OVER-YEAR (seasonally adjusted, February 2023 vs February 2022)
Nova Scotia wholesale trade increased 6.9%. Canada wholesale trade increased 7.4%. Eight of ten provinces reported year over year increases in wholesale trade. The prairie provinces reported the largest gains while Quebec and British Columbia reported the only declines.
Year-to-date (January-February 2023 vs January-February 2022)
Nova Scotia wholesale trade increased 6.0%. Canada wholesale trade increased 8.3%. Nine of ten provinces reported year to date increases. The prairie provinces reported the largest year-to-date gains in wholesale trade, and British Columbia reported the only decline.
The largest dollar contributions to Nova Scotia's to wholesale trade came from food and beverage wholesalers as well as building materials wholesalers. Data for wholesale trade in farm products and personal/household goods were not included.
The largest percentage contributions to Nova Scotia's to wholesale trade came from motor vehicle and parts wholesalers, and machinery/equipment wholesalers. Building material reported the only year-to-date declines over the same period last year.
TRENDS
Over the past year,there has been high volatility in Nova Scotia's wholesale trade with several large declines and recoveries.
National wholesale inventories increased $1.02 billion from January to February. The national ratio of inventories to sales increased from 1.48 to 1.52 in February.
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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