Canada wholesale commodity sales edge lower as vehicle and grain declines offset petroleum gains
Canada's wholesale sector records $1.4 trillion in commodity sales in 2024, as weaker demand in several major categories slightly outweighs gains elsewhere. The annual data show petroleum products expand their share of total wholesale sales, while total cost of goods sold declines to $1.2 trillion.
Highlights
- Canada's overall wholesale commodity sales decline 0.3% year-over-year to $1.4 trillion in 2024, according to Statistics Canada.
- Automobiles, light trucks and vans sales fall by $9.5 billion (7.7%), and oilseeds and grains drop $5.8 billion (11.8%), outweighing gains elsewhere.
- Petroleum and petroleum products sales rise $1.7 billion to $372.6 billion, raising their share to 26.1% of total wholesale sales in 2024.
2024 wholesale sales trends by commodity
As reported by Statistics Canada, overall wholesale commodity sales in Canada, excluding wholesale trade commissions, decrease 0.3% from 2023 to $1.4 trillion in 2024. The Annual Wholesale Trade Survey tracks sales and the cost of goods sold across commodities classified under the North American Product Classification System.The largest dollar declines come from automobiles, light trucks and vans, where sales fall by $9.5 billion, or 7.7%. Oilseeds and grains follow, with sales down $5.8 billion, or 11.8%, while gains in 34 of 66 commodity subclasses are not enough to offset broader weakness.
The top five commodity subclasses account for 49.6% of total sales in both 2023 and 2024. Petroleum and petroleum products remain the biggest subclass, with their share rising to 26.1% from 25.9% as sales increase by $1.7 billion to $372.6 billion.
Cost pressures and sector implications
Costs also move lower across much of the sector in 2024, with 33 of 66 commodity subclasses posting declines in cost of goods sold. Nationally, total cost of goods sold falls by $13.7 billion from 2023 to $1.2 trillion.The sharpest cost decline is again in automobiles, light trucks and vans, where the cost of purchased goods resold drops by $9.8 billion, or 8.7%. The figures point to softer activity in some high-value wholesale categories even as petroleum products continue to support the sector's overall sales mix.
In our earlier article on Pakistan’s petrol and high-speed diesel price hike, we covered how retail fuel rates were raised again amid rising global crude prices and tighter supply conditions. The update outlined the government’s pricing mechanism and the key international factors behind the move, underscoring how elevated energy costs can ripple through trade and broader economic activity.
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