Wholesale trade, November 2024

Released: 2025-01-15

Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) fell 0.2% to $83.7 billion in November. The largest decrease came from the motor vehicle and motor vehicle parts and accessories subsector (-5.5% to $14.0 billion). This decrease was tempered by increased sales in five of the seven subsectors, representing 68.6% of total wholesale sales. Wholesale sales were 0.6% higher in November 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) decreased 0.5% in November.

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

Lower sales in motor vehicle and motor vehicle parts and accessories in November

After leading the sector's increase in October (+3.8% to $14.8 billion), sales in the motor vehicle and motor vehicle parts and accessories subsector (-5.5% to $14.0 billion) drove the decline in wholesale trade in November. This decrease was driven by sales in the motor vehicle industry group (-6.8% to $11.3 billion).

The decrease in wholesale sales in November was moderated by an increase in sales in five of the seven subsectors. The food, beverage and tobacco subsector (+1.9% to $15.2 billion) posted the largest increase, followed by the building material and supplies subsector (+1.6% to $12.2 billion) and the machinery, equipment and supplies subsector (+0.6% to $18.1 billion).

Sales decline in British Columbia

In November, most provinces saw a decrease in wholesale sales, with British Columbia (-1.9%) leading the way, followed by Quebec (-0.5%).

Wholesale sales in British Columbia fell by 1.9% to $7.9 billion in November, following an increase in October (+3.2% to $8.1 billion). Decreases were reported in five of the seven subsectors in November, led by the machinery, equipment and supplies subsector (-8.3% to $1.4 billion), followed by the motor vehicle and motor vehicle parts and accessories subsector (-10.5% to $765.9 million).

Quebec saw the second-largest decrease in provincial wholesale sales, falling 0.5% to $14.9 billion in November. Sales declined in five of the seven subsectors, with the motor vehicle and motor vehicle parts and accessories subsector (-6.0% to $1.9 billion) experiencing the most significant drop.

The decline in wholesale sales in November was moderated by increased sales in Alberta (+1.0% to $9.3 billion) and Ontario (+0.2% to $43.6 billion).

Inventories fall in November

Wholesale inventories (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) were down 0.3% to $127.6 billion in November.

In November, four of the seven subsectors recorded declines, led by the motor vehicle and motor vehicle parts and accessories subsector (-3.4% to $17.1 billion).

Inventory increases in the personal and household goods subsector (+2.7% to $21.1 billion) tempered the decline in wholesale inventories in November.

The inventory-to-sales ratio decreased from 1.53 in October to 1.52 in November. This ratio is a measure of the time (in months) required to exhaust inventories if sales were to remain at their current levels.

Contact information

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