Wholesale trade, September 2024

Released: 2024-11-15

Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) rose 0.8% to $82.3 billion in September. Sales increased in five of the seven subsectors (representing 67.2% of total wholesales sales). The largest increase came from the motor vehicle and motor vehicle parts and accessories subsector and the agriculture supplies industry group within the miscellaneous subsector. Wholesale sales were 0.4% lower in September compared with the same month one year earlier.

In volume terms, wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) increased 0.9% in September.

Chart 1 
Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and oilseed and grain) decline in September

Higher sales in motor vehicle and motor vehicle parts and accessories

Following a decline in August, sales in the motor vehicle and motor vehicle parts and accessories subsector increased by 2.0% to $14.1 billion in September. Sales increased in two of the three industry groups in September, with the largest increase coming from motor vehicle merchant wholesalers (+2.2% to $11.3 billion).

After leading the sector's decrease in August, the miscellaneous subsector (+4.5% to $10.5 billion) recorded the largest increase in sales among all subsectors in September. In total, six of its seven industry groups registered increases, with the agriculture supplies industry group (+4.9% to $3.4 billion) being the largest contributor to the increase.

The increase in wholesale sales was tempered by a decline in the food, beverage and tobacco subsector (-0.7% to $14.7 billion) as well as in the personal and household goods subsector (-0.7% to $12.4 billion).

Ontario leads provincial sales increase

In September, most provinces saw an uptick in wholesale sales, with Ontario (+2.0%) leading the way, followed by British Columbia (+1.3%).

After four months of decline, Ontario's wholesale sales rebounded by 2.0% to $42.8 billion in September, marking the first increase since April. Growth in September was attributable to gains in five of the seven subsectors, led by the miscellaneous subsector (+7.9% to $5.0 billion) and the motor vehicle and motor vehicle parts and accessories subsector (+2.5% to $9.7 billion).

British Columbia posted the second-largest increase in provincial wholesale sales, rising 1.3% to $7.9 billion in September. Sales increased in three of the seven subsectors, with the miscellaneous subsector (+9.1% to $1.1 billion) leading the growth, particularly the mineral, ore and precious metal industry group.

Provincial increases in wholesale sales were offset by a decrease in sales in Manitoba (-8.7% to $1.8 billion). Sales decreased in five of the seven subsectors, driven by the machinery, equipment and supplies subsector (-19.0% to $350.2 million).

Inventories grow in September

Wholesale inventories (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) rose for the third month in a row, increasing 0.2% to $128.2 billion in September.

Inventory gains were recorded in four of the seven subsectors, led by the motor vehicle and motor vehicle parts and accessories subsector (+2.4% to $17.9 billion). These gains were followed by those in the miscellaneous subsector (+1.8% to $14.8 billion), in which inventory levels were largely pushed up by the agricultural supplies industry group (+2.7% to $6.4 billion).

Although inventories rose in the majority of subsectors, inventories fell in the building materials and supplies (-1.1% to $22.1 billion) and food, beverage and tobacco (-1.6% to $12.9 billion) subsectors.

The inventory-to-sales ratio decreased from 1.57 in August to 1.56 in September. This ratio is a measure of the time (in months) required to exhaust inventories if sales were to remain at their current levels.

Wholesale sales decrease in the third quarter of 2024

In the third quarter of 2024, wholesale sales declined by 0.9% to $246.3 billion, as five of the seven subsectors posted declines. This decrease was in part impacted by lower sales in August.

The largest drop in the third quarter was seen in the motor vehicle and motor vehicle parts and accessories subsector, which fell 3.4% to $42.2 billion, followed by the machinery, equipment and supplies subsector (-1.5% to $53.0 billion).

Sales in the third quarter were 0.5% below those from the same quarter the previous year.

Contact information

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