Wholesale trade, November 2023
Released: 2024-01-15
$82.5 billion
November 2023
0.9% 
(monthly change)
$462.3 million
November 2023
+6.5%
(monthly change)
$111.0 million
November 2023
-1.7% 
(monthly change)
$1,162.3 million
November 2023
+2.6%
(monthly change)
$775.4 million
November 2023
-0.6%
(monthly change)
$14,643.3 million
November 2023
-2.1%
(monthly change)
$42,374.8 million
November 2023
+0.9%
(monthly change)
$2,106.3 million
November 2023
+8.7%
(monthly change)
$3,440.7 million
November 2023
+0.8%
(monthly change)
$9,052.6 million
November 2023
-1.5%
(monthly change)
$8,285.4 million
November 2023
+7.0%
(monthly change)
x
November 2023
x
(monthly change)
$38.7 million
November 2023
-3.4%
(monthly change)
x
November 2023
x
(monthly change)
Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) grew 0.9% to $82.5 billion in November. Sales increased in four of the seven subsectors, led by the motor vehicle and motor vehicle parts and accessories subsector and the building material and supplies subsector. On an annual basis, wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) were 0.2% lower in November compared with the same month one year earlier.
Petroleum products as well as oilseed 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) increased 0.6% in November.
Chart 1
Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) increase in November
Motor vehicle and motor vehicle parts and accessories sales accelerate in November
Following the subsector's first decline in three months in October, sales in the motor vehicle and motor vehicle parts and accessories subsector increased by 3.3% to $14.8 billion in November. Sales grew in two of the three industry groups, led by the motor vehicle industry group (+3.8% to $12.1 billion). This industry group has reported increased sales in four of the last six months, reaching a record sales level in November. The new motor vehicle parts and accessories industry group also increased in November (+1.7% to $2.6 billion).
Sales in the building material and supplies subsector increased for the second consecutive month, up 1.8% to $12.3 billion in November. The increase of sales in the subsector was led by two main industry groups, the electrical, plumbing, heating and air-conditioning equipment and supplies industry group (+3.2% to $4.0 billion) and the lumber, millwork, hardware and other building supplies industry group (+1.9% to $6.1 billion).
The personal and household goods subsector reported an increase in sales, up 1.5% to $11.5 billion in November, the first increase in three months. This subsector's growth was led by gains in the toiletries, cosmetics and sundries industry (+11.7% to $1.1 billion) and the home furnishings industry group (+5.0% to $732.0 million).
British Columbia leads growth in November
The increase in wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) in November was led by higher sales in British Columbia and Ontario.
Wholesale sales in British Columbia increased by 7.0% to $8.3 billion in November, the first increase since August. Increases were reported in six of the seven subsectors, with the largest increase being in the building material and supplies subsector (+10.4% to $2.3 billion). There was also notable growth in the food, beverage and tobacco subsector, up 7.1% to $1.6 billion.
Wholesale sales in Ontario were up 0.9% to $42.4 billion in November. Higher sales were reported in three of the seven subsectors, mainly driven by the motor vehicle and motor vehicle parts and accessories (+3.8% to $10.2 billion) and personal and household goods (+2.3% to $6.7 billion) subsectors.
In Quebec, wholesale sales were down 2.1% to $14.6 billion in November after the province reported its largest increase since the beginning of 2023 in October. Sales decreased in all seven subsectors, with the food, beverage and tobacco subsector (-3.1% to $3.1 billion) contributing most to the decline in November.
Inventories fall in November
Wholesale inventories (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) fell 1.5% to $127.9 billion in November.
Inventory declines were reported in five of the seven subsectors, led by the machinery, equipment and supplies subsector (-3.1% to $37.9 billion), followed by the building material and supplies subsector (-3.0% to $21.9 billion).
The inventory-to-sales ratio fell from 1.58 in October to 1.55 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.
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Note to readers
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 Section 2: Issues related to analysis and interpretation.
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 (see Section 1: Concepts and definitions) and provide information on longer-term movements, including underlying changes in direction in 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 20-10-0019-01, 20-10-0020-01 and 20-10-0005-01 will be updated soon.
Next release
Wholesale trade data for December 2023 will be released on February 16, 2024.
Products
The product "Monthly Wholesale Trade Survey: Interactive Tool" (71-607-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).
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