Summary of Findings

New Hampshire had 2,104 wholesale establishments in 1992 with $8.2
billion in sales. This represents a 7.0 percent increase in wholesale
establishments and a 20.4 percent increase in sales over 1987 according
to the 1992 Census of Wholesale Trade conducted by the Bureau of the
Census, U.S. Department of Commerce. 

Merchant wholesalers accounted for 83.1 percent or 1,748 of the total
establishments and 64.4 percent or $5.2 billion of the total sales in
1992 compared with 84.5 percent of the establishments and 69.1 percent
of the sales in 1987. Manufacturers' sales branches and offices with
147 establishments and $1.9 billion in sales and agents, brokers, and
commission merchants with 209 establishments and $986.7 million in
sales made up the rest of the wholesale trade total in 1992. 

Groceries and related products, n.e.c., wholesalers were the largest
group of wholesalers by kind of business in terms of sales with $660.1
million followed by stationery and office supplies wholesalers with
$560.4 million and lumber, plywood, millwork, and wood panels
wholesalers with $473.0 million. Out of 69 kind of business groups,
these three accounted for 20.8 percent of the total sales in the State.

Annual payroll for all wholesalers in the State was up from $560.6
million in 1987 to $634.9 million in 1992. Merchant wholesalers had
annual payroll of $497.6 million in 1992 while manufacturers' sales
branches and offices recorded $107.8 million and agents, brokers, and
commission merchants had $29.5 million. 

Employment by all wholesalers in New Hampshire as of mid-March 1992 was
20,464, a decrease of 9.2 percent since 1987. Merchant wholesalers with
16,855 employees accounted for 82.4 percent of the total wholesale
employment in 1992 compared with 83.9 percent in 1987. 

Inventories of $675.1 million were held at wholesale establishments in
the State at the end of 1992. Merchant wholesalers held 91.1 percent of
these inventories while manufacturers' sales branches and sales offices
held 8.6 percent and agent, brokers, and commission merchants held .3
percent. Inventories of all wholesalers increased during 1992 by 1.5
percent while those of merchant wholesalers increased 2.4 percent. 

Payroll per employee in the State averaged $31.0 thousand for all
wholesalers in 1992, an increase of 24.8 percent since 1987. Merchant
wholesalers averaged $29.5 thousand per employee while manufacturers'
sales branches and offices was $37.5 thousand and agents, brokers, and
commission merchants were $40.3 thousand in 1992. 

Annual payroll as a percent of operating expenses for all wholesalers
remained unchanged at 50.7 percent in both 1987 and 1992. The ratio for
merchant wholesalers was 50.4 percent; for manufacturers' sales
branches and offices it was 51.4 percent; and for agents, brokers and
commission merchants it was 52.6 percent.