Canada’s wholesale sales declined by 1pc to C$754bn ($594.06bn) in 2020, compared to 2019 led by falls in the automotive sector according to Statistics Canada (StatCan) data.
In December, wholesale sales fell by 1.3pc to C$66.5bn compared to the previous month due to lower motor vehicle and auto parts sales. According to StatCan data, the sales of motor vehicles, auto parts, and accessories dropped by 4.3pc to C$10.7bn in December, followed by a 3.1pc drop in machinery, equipment, and supplies sales to C$13.8bn.
Automotive sales in Canada plummeted by 74pc in February-April 2020 due to the COVID-19 pandemic, which affected the sector’s annual performance, StatCan reported. However, sales in this sub-sector increased by 113.4pc in May-June 2020.
Automotive trade also took a hit owing to the pandemic. Canada’s export of motor vehicles and parts fell by 20.3pc while imports dropped by 24pc in 2020 from the previous year.
Canada’s inventory levels also declined by 0.1pc to C$90bn in December with inventories of machinery, equipment and supplies dropping by 1.2pc to C$26.2bn. Automotive, auto parts and accessories stocks, however, increased by 2.3pc to C$11.7bn in December from November 2020.