Wholesale trade, December 2024

Released: 2025-02-14

Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) fell 0.2% to $83.6 billion in December. Sales decreased in three of the seven subsectors, representing 53.4% of total wholesale sales. The largest decrease was in the machinery, equipment and supplies subsector (-2.1% to $17.7 billion), followed by the building material and supplies subsector (-2.8% to $11.8 billion). Wholesale sales were 0.6% higher in December, 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 0.8% in December.

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

Lower sales in machinery, equipment and supplies and building material and supplies in December

Sales in the machinery, equipment and supplies subsector (-2.1% to $17.7 billion) drove the decline in wholesale trade in December. Three of its four industry groups registered declines, with the computer and communications equipment and supplies industry group (-4.2% to $5.1 billion) being the largest contributor to the decrease.

The second largest decrease in wholesale sales in December was reported in the building material and supplies subsector (-2.8% to $11.8 billion), led by the lumber, millwork, hardware and other building supplies industry group (-3.8% to $5.8 billion).

The decrease in wholesale sales in December was moderated by an increase in four of the seven subsectors. The motor vehicle and motor vehicle parts and accessories subsector posted the largest increase (+1.4% to $14.3 billion).

Ontario leads provincial sales decline

Despite six provinces reporting increases in wholesale sales in December, a decline in Ontario (51.6% of total wholesale sales) led to an overall decrease at the national level.

After three consecutive months of increases, wholesale sales in Ontario fell by 1.3% to $43.1 billion in December, registering its second largest decline since the beginning of the year. Sales decreased in five of the seven subsectors, driven by the machinery, equipment and supplies subsector (-4.4% to $8.6 billion).

In contrast, wholesale sales in Quebec rose 1.7% to $15.1 billion in December. Sales increased in six out of the seven subsectors, led by the motor vehicle and motor vehicle parts and accessories (+9.5% to $2.1 billion) and the personal and household goods (+2.7% to $3.4 billion) subsectors.

Inventories grow in December

Wholesale inventories (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) grew 0.6% to $128.1 billion in December. The growth was led by the building material and supplies subsector (+2.8% to $22.7 billion), followed by the personal and household goods subsector (+1.4% to $21.5 billion).

The inventory-to-sales ratio increased from 1.52 in November to 1.53 in December. 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 grow in the fourth quarter of 2024

In the fourth quarter, wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) grew 1.6% to $251.1 billion, driven by higher sales in October.

The largest sales increase in the fourth quarter was in the building material and supplies subsector (+3.4% to $35.9 billion), followed by the food, beverage and tobacco subsector (+2.0% to $45.2 billion).

Wholesale sales were 1.0% higher in the fourth quarter when compared to the same quarter of 2023.

In volume terms, wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) increased 0.7% in the fourth quarter of 2024.

Wholesale sales rise on an annual basis in 2024

Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) grew 0.2% to $994.5 billion in 2024. On an annual basis, sales increased in four of the seven subsectors, representing 56.0% of total wholesale sales.

The largest increase came from the personal and household goods subsector, where sales increased by 4.8% to $146.8 billion in 2024. The increase was driven by the pharmaceuticals and pharmacy supplies industry (+6.1% to $82.8 billion).

After leading the growth in wholesale sales in 2023, the motor vehicle and motor vehicle parts and accessories subsector decreased by 2.8% to $172.5 billion in 2024. The decrease was due to lower sales from the motor vehicle industry group (-4.7% to $139.7 billion).

Contact information

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