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Saskatchewan saw the strongest month-over-month growth in international merchandise exports among Canadian provinces in October, according to the latest data from Statistics Canada.
The province's exports increased by 21.7 per cent in October compared to September, reaching $4.3 billion. Merchandise exports reflect the dollar value of goods sold internationally, excluding services.
“These export numbers show that Saskatchewan is providing the food, fuel, fertilizer, and critical minerals that the world needs,” Trade and Export Development Minister Warren Kaeding said in a statement. “Thanks to our competitive business environment and international engagement efforts, we continue to see record exports and private investment, which is creating more jobs and a bright future for Saskatchewan people.”
The province's international merchandise exports totalled more than $102 billion for 2022 and 2023 combined, an increase of over 52 per cent from the previous two years and the highest in Saskatchewan's history.
Statistics Canada also reported that Saskatchewan’s real GDP reached an all-time high of $77.9 billion in 2023, up $1.8 billion or 2.3 per cent from the previous year. This was the second-highest real GDP growth rate in the country and above the national average of 1.2 per cent.
Private capital investment in Saskatchewan is projected to hit $14.2 billion in 2024, an increase of 14.4 per cent from 2023. This represents the largest percentage increase in the country.