Wholesale trade, March 2025
Released: 2025-05-15
$86.5 billion
March 2025
0.2%
(monthly change)
$516.3 million
March 2025
3.8%
(monthly change)
$120.8 million
March 2025
2.3%
(monthly change)
$1,260.4 million
March 2025
0.1%
(monthly change)
$754.2 million
March 2025
-1.4%
(monthly change)
$15,244.4 million
March 2025
-0.6%
(monthly change)
$44,608.1 million
March 2025
-0.4%
(monthly change)
$2,109.2 million
March 2025
5.4%
(monthly change)
$4,047.7 million
March 2025
10.2%
(monthly change)
$9,514.5 million
March 2025
-0.8%
(monthly change)
$8,260.4 million
March 2025
0.4%
(monthly change)
$14.4 million
March 2025
-10.9%
(monthly change)
$24.8 million
March 2025
-5.3%
(monthly change)
$11.6 million
March 2025
7.0%
(monthly change)
Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) rose 0.2% to $86.5 billion in March. Sales increased in three of the seven subsectors, representing 32.0% of total wholesale sales. The largest increase came from the motor vehicle and motor vehicle parts and accessories subsector (+4.5% to $15.1 billion), followed by the miscellaneous subsector (+4.1% to $11.0 billion). Wholesale sales were 5.7% higher in March 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 0.3% in March.
Motor vehicle and motor vehicle parts and accessories lead sales increases in March
Following a decline in February, sales in the motor vehicle and motor vehicle parts and accessories subsector increased 4.5% to $15.1 billion in March, its highest reported sales since April 2024. The increase was driven by sales in the motor vehicle industry group (+5.1% to $12.3 billion), reflecting a higher number of vehicles sold.
The miscellaneous subsector also contributed to higher wholesale sales, up 4.1% to $11.0 billion in March. Sales increased in six of its seven industry groups, led by the mineral, ore and precious metals, and the agriculture supplies industry groups.
The increase in wholesale sales in March was moderated by decreases in four of the seven subsectors. The building material and supplies subsector posted the largest decrease (-3.0% to $12.0 billion).
Saskatchewan leads provincial sales increase
In March, six provinces reported higher wholesale sales, led by Saskatchewan, and followed by Manitoba.
Saskatchewan recorded a third consecutive month of rising wholesale sales, up 10.2% to $4.0 billion in March. Gains were observed in five of the seven subsectors, with the machinery, equipment, and supplies subsector posting the largest increase (+17.9% to $1.5 billion).
Manitoba saw the second-largest increase in provincial wholesale sales, rising 5.4% to $2.1 billion in March. Sales increased in five of the seven subsectors, with the machinery, equipment and supplies subsector leading the gains (+14.3% to $498.3 million).
Ontario (-0.4% to $44.6 billion) posted a decline in wholesale sales in March, tempering the national increase. Despite the motor vehicle and motor vehicle parts and accessories subsector (+5.5% to $10.3 billion) posting an increase in the Ontario, the decrease in sales in five of the seven subsectors resulted in an overall decrease in provincial wholesale sales.
Inventories fall in March
Wholesale inventories (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) were down 0.9% to $129.7 billion in March.
In March, five of the seven subsectors recorded inventory declines, led by the personal and household goods subsector (-1.9% to $20.8 billion). Declines were also reported in the building material and supplies (-1.4% to $22.6 billion) and the machinery, equipment and supplies (-0.8% to $39.9 billion) subsectors.
The inventory-to-sales ratio fell from 1.52 in February to 1.50 in March. 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 grew in the first quarter of 2025
In the first quarter, wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) grew 2.5% to $258.3 billion, primarily driven by higher sales in January.
The machinery, equipment and supplies subsector (+4.1% to $56.3 billion) led sales increase in the first quarter, followed by the motor vehicle and motor vehicle parts and accessories subsector (+2.9% to $44.5 billion).
In the first quarter, wholesale sales were 4.3% higher compared with the same quarter one year earlier.
In volume terms, wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) increased 1.6% in the first quarter.
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Note to readers
Wholesale (sales and inventories) values exclude petroleum, petroleum products, and other hydrocarbons and oilseed and grain unless otherwise stated.
Petroleum, petroleum products, and other hydrocarbons and oilseed and grain data continue to be available in data tables but will be excluded from monthly analysis until historical data are available.
All data in this release are seasonally adjusted and expressed in current dollars unless otherwise noted.
Seasonally adjusted data are data that have been modified to eliminate the effect of seasonal and calendar influences to allow for more meaningful comparisons of economic conditions from period to period. For more information on seasonal adjustment, see Seasonally adjusted data – Frequently asked questions.
Trend-cycle estimates are included in selected charts as a complement to the seasonally adjusted series. These data represent a smoothed version of the seasonally adjusted time series and provide information on longer-term movements, including changes in direction underlying the series. For information on trend-cycle data, see Trend-cycle estimates – Frequently asked questions.
Both seasonally adjusted data and trend-cycle estimates are subject to revision as additional observations become available. These revisions could be large and could even lead to a reversal of movement, especially for reference months near the end of the series or during periods of economic disruptions.
Total wholesale sales expressed in volume are calculated by deflating current dollar values using relevant price indexes. The wholesale sales series in chained (2012) dollars is a chained Fisher volume index, with 2012 as the reference year. For more information, see the publication "Deflation of wholesale sales."
The Monthly Wholesale Trade Survey covers all industries within the wholesale trade sector, as defined by the North American Industry Classification System (NAICS), with the exception of business-to-business electronic markets, and agents and brokers (NAICS 419).
Real-time data tables
Real-time data tables 20-10-0020-01 and 20-10-0005-01 will be updated soon.
Next release
Wholesale trade data for April will be released on June 13.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
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