Annual wholesale trade, 2024

Released: 2026-04-08

The total operating revenue of Canadian merchant wholesalers declined 0.2%, from $1,489.6 billion in 2023 to $1,486.5 billion in 2024. Excluding petroleum products, total operating revenue decreased 0.3% compared with 2023.

In 2024, the total operating profits for the wholesale sector, expressed as a percentage of total operating revenue, were essentially unchanged from the previous year, at 5.0%.

The cost of goods sold, which represents the cost of acquiring goods for resale, decreased 0.9% to $1,233.0 billion in 2024. This was driven by declines in the cost of goods sold in the motor vehicle and motor vehicle parts and accessories subsector (-4.9%), the building material and supplies subsector (-5.2%) and the miscellaneous subsector (-5.2%).

In contrast, total operating expenses, which include labour remuneration, were up 4.5% to $178.6 billion for wholesalers in Canada in 2024. Much of this increase was influenced by gains in total operating expenses in the machinery, equipment and supplies subsector (+5.5%) and in the food, beverage and tobacco subsector (+8.3%).

Wholesale revenue declines in four of nine subsectors

A notable decrease in total operating revenue was observed in the motor vehicle and motor vehicle parts and accessories subsector, down $7.2 billion to $179.8 billion in 2024. The building material and supplies subsector also recorded a decline in total operating revenue, falling 4.2% from $143.6 billion in 2023 to $137.7 billion in 2024.

The declines were largely offset by increases in the total operating revenue in the food, beverage and tobacco subsector (+4.0% to $192.0 billion) and the personal and household goods subsector (+3.7% to $155.6 billion) in 2024.

Gross margins increase

Gross margins for merchant wholesalers (the difference between total operating revenue and the cost of goods sold, expressed as a percentage of total operating revenue) increased 0.6 percentage points to 17.1% in 2024.

Overall, eight of the nine subsectors recorded gains in gross margins. The subsector with the largest percentage increase was the motor vehicle and motor vehicle parts and accessories subsector, in which the gross margin grew 1.0 percentage point to 14.1% in 2024.

Wholesale revenue down in six provinces

In 2024, merchant wholesalers in six provinces and two territories recorded lower total operating revenue compared with 2023. The largest declines were seen in Quebec (-1.1%), Saskatchewan (-3.7%), Alberta (-0.4%) and Ontario (-0.1%). These decreases were partly offset by gains in British Columbia (+1.8%) and Manitoba (+2.9%).

The total operating revenue for merchant wholesalers in Quebec dropped 1.1%, from $213.9 billion in 2023 to $211.5 billion in 2024. Much of this decrease was attributable to the petroleum and petroleum products subsector, which fell 11.6% to $22.9 billion. This subsector accounted for 10.8% of merchant wholesalers' total operating revenue in this province.

In Saskatchewan, merchant wholesalers' total operating revenue dropped 3.7% to $57.0 billion in 2024. This decrease was primarily due to miscellaneous merchant wholesale declines in that province, particularly in the agricultural supplies merchant wholesalers industry group (-14.2%).

Alberta experienced the third-largest decline in total operating revenue, decreasing 0.4% from $412.8 billion in 2023 to $411.3 billion in 2024. This decrease was due to lower revenues in the business-to-business electronic markets, and agents and brokers subsector (-21.7% to $3.5 billion), the building materials and supplies subsector (-4.5% to $17.3 billion) and the machinery, equipment and supplies subsector (-2.2% to $34.3 billion). Petroleum, petroleum products, and other hydrocarbons continued to be the largest subsector in this province, comprising 71.5% of Alberta's total operating revenue for merchant wholesales in 2024.

The fourth-largest decline was recorded in Ontario, where total operating revenue was down 0.1% to $597.4 billion in 2024. Among the subsectors, the largest decline was in the motor vehicle and motor vehicle parts and accessories subsector (-4.9% to $140.1 billion), followed by the building material and supplies subsector (-6.1% to $58.5 billion) and the farm products subsector (-12.0% to $13.7 billion). Partly offsetting these declines were gains in the food, beverage and tobacco subsector (+5.9% to $85.3 billion) and the personal and household goods subsector (+5.1% to $91.9 billion).

Overall, the decline in Canada's merchant wholesalers' total operating revenue was moderated by an increase in British Columbia, where total operating revenue rose 1.8% to reach $125.0 billion in 2024. This increase was led by the food, beverage and tobacco subsector, rising 3.5% from $20.4 billion in 2023 to $21.1 billion in 2024.

Contact information

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