According to a new report by Statistics Canada, the value and volume of wholesale trade rose 1.6 percent to $44.2 billion in May. The main catalyst? Higher global demand for agricultural chemical products. The report also stated that six of seven wholesale sectors reported higher sales vales, with the only decline coming from the troubled automotive sector.

 

Detailed Statistics

• The agricultural fertilizers and supplies, chemicals, recycled materials and paper products sector recorded its strongest gain this year as current dollar sales rose 9.5 percent to $6.4 billion in May.

 

• The agricultural fertilizers and fertilizer materials were 57.7 percent higher in May compared with the same month in 2007.

 

• Farm products posted their largest monthly increase in two years, with sales rising 7.3 percent in May to $474.6 million, after decreasing in the first five months of 2008.

 

Reference Source: Statistics Canada