Wholesale trade, January 2024

Released: 2024-03-15

Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) grew 0.1% to $82.4 billion in January. Sales increased in three of the seven subsectors, led by the machinery, equipment and supplies subsector and the personal and household goods subsector. On an annual basis, wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) were 2.0% lower in January compared with the same month one year earlier.

Petroleum products as well as oilseeds and grain data continue to be available in data tables but will be excluded from monthly analysis until historical data are available for monthly and annual analysis.

In volume terms, wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) were essentially unchanged in January.

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

Machinery, equipment and supplies and personal and household goods lead sales increase in January

Sales in the machinery, equipment and supplies subsector grew by 1.4% to $17.4 billion in January, its first increase in five months. Growth was driven by a strong increase in the computer and communications equipment and supplies industry group (+10.0% to $4.9 billion). This increase was partially offset by declines in the farm, lawn and garden machinery and equipment industry group and the other machinery equipment and supplies industry group.

For a fourth consecutive month, the personal and household goods subsector also contributed to the growth, up 1.8% to $12.0 billion in January. Growth was reported in three of the subsector's five industry groups. However, the increase of the textile, clothing and footwear industry group (+14.7% to $1.5 billion) contributed the most to the increase, following a decline in December. Conversely, wholesale sales of pharmaceuticals and pharmacy supplies declined in January, following a large increase in December, which drove the increase in the subsector that month.

Sales growth was partially offset by a decline in sales in the building material and supplies subsector, which decreased for a second consecutive month, down 2.9% to $11.7 billion in January. Sales declined in two of the three industry groups, that is, the lumber, millwork, hardware and other building supplies industry group (-3.8% to $5.8 billion) and the metal service centres industry group (-6.4% to $2.1 billion).

Sales in Quebec lead provincial gains

Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) in January increased in five provinces, led by Quebec.

Wholesale sales in Quebec increased 0.8% to $14.8 billion in January. Increases were reported in four of the seven subsectors, with the largest increases coming from the miscellaneous subsector (+8.9% to $1.6 billion) and the food, beverage and tobacco subsector (+2.3% to $3.2 billion).

In contrast, sales were down 0.2% in Ontario to $42.6 billion in January. Declines were reported in four of the seven subsectors, with the miscellaneous (-5.0% to $4.7 billion) and the food, beverage and tobacco (-2.6% to $6.9 billion) subsectors showing the largest decreases in sales.

Inventories fall in January

Wholesale inventories (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) fell 1.1% to $128.0 billion in January.

A decrease of inventories was reported in four of the seven subsectors in January, led by motor vehicle and motor vehicle parts and accessories merchant wholesalers (-4.5% to $16.7 billion), as imports of motor vehicles and parts declined. The second-highest increase was in machinery, equipment and supplies merchant wholesalers (-1.1% to $39.0 billion).

The inventory-to-sales ratio fell from 1.57 in December to 1.55 in January. This ratio is a measure of the time (in months) required to exhaust inventories if sales were to remain at their current levels.

Products

The product "Monthly Wholesale Trade Survey: Interactive Tool" (Catalogue number71-607-X) is available online. This product is based on the data published in the tables of the Monthly Wholesale Trade Survey: 20-10-0074-01, 20-10-0076-01 and 20-10-0003-01.

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).