Saskatchewan sees second-highest growth of retail trade in Canada

Saskatchewan is near the lead for Canada when it comes to retail trade, with Statistics Canada putting the province at the top compared to its peers.

The latest retail trade figures from Statistics Canada show that for June 2024 Saskatchewan placed second among all provinces for year-over-year growth.

In total figures, retail trade sales increased by 3.4 per cent in the month compared to 2023, totaling a $2.1 billion increase.

"Saskatchewan continues to be a national leader in this key economic indicator, which is a reflection of our strong and growing economy," Trade and Export Development Minister Jeremy Harrison said. "We are seeing unprecedented investment into our province with the lowest inflation rate and strongest job growth in the country."

"Our government will continue to protect and promote Saskatchewan's industries to ensure we remain the best place to do business. This economic growth creates new job opportunities and helps build strong and vibrant communities across the province."

Statistics Canada compiles data on sales and the number of retail locations by province, territory, and certain census metropolitan areas in the Monthly Retail Trade Survey.

They measure retail sales by total receipts at stores or establishments that sell goods or services to consumers.

Saskatchewan is also doing well in terms of overall growth according to Statistics Canada. Their latest GDP numbers put Saskatchewan's 2023 real GDP at an all-time high of $77.9 billion, with an increase of $1.2 billion, or 1.6 per cent.

That places Saskatchewan at second place in the nation for real GDP growth and above the national average of 1.2 per cent.