StatsCan released their monthly survey results for May which examined sales within the Canadian manufacturing industry. Overall, manufacturing sales increased by 0.7% to $48.6 billion in May 2013. The below chart illustrates the monthly change in Canadian manufacturing sales since 2008.
Out of 21 industries within the manufacturing sector, 57% of industries noticed an increase in sales. The chemical industry posted the largest sales gains amongst all industries. The gain within the chemical industry can be attributed to the increase in fertilizer sales due to the delayed spring planting. The wood product industry saw a decline in sales by 4.8% to $2.1 billion. However despite the monthly decline, wood product sales were 26.5% higher in comparison to May 2012 sales. Ontario led the provinces in manufacturing sales increase as their sales rose 1.9% to $22.7 billion. Quebec noticed a fall in sales by 2.8% to $10.7 billion.
There are several government funding initiatives available to manufacturers to increase their sales. Ontario Exporters Fund (OEF) and Export Market Access (EMA) represent two of the most prominent export funds available to manufacturing businesses. Furthermore, the new AgriMarketing program is designed to assist food manufacturers expand sales in both domestic and export markets. Read our recent blog about recent developments on the aforementioned programs.