Launched on November 14, 2023
The newest Gross Home Product (GDP) numbers for Canada place Saskatchewan as the highest province within the nation for GDP progress. In line with Statistics Canada, Saskatchewan had a 6.0 per cent enhance from 2021 to 2022, rating first amongst provinces and territories. The overall greenback worth of the province’s 2022 GDP is $76.7 billion.
“Saskatchewan’s financial system is rising,” Commerce and Export Growth Minister Jeremy Harrison mentioned. “Not solely do our GDP numbers lead the nation, however they lead by a powerful margin, nearly double that of many different provinces. We’ll proceed to help the financial growth of Saskatchewan as a approach to construct and shield our communities.”
The principle driver of this progress is a forty five.6 per cent enhance within the agriculture sector. Mining, oil and fuel extraction, lodging and meals providers, development and manufacturing have been different key industries for the province.
GDP measures the worth of products and providers produced inside a prescribed geographic area over a specified time frame. Statistics Canada’s provincial financial accounts launch is the ultimate GDP indicator for 2022.
This announcement comes on the heels of a number of different sturdy financial indicators. Final week’s Labour Power Survey confirmed Saskatchewan has the bottom unemployment price in Canada, with 19,300 new jobs year-over-year in comparison with October 2022. In September, the province noticed a 14.8 per cent enhance in year-over-year housing begins, file inhabitants progress, and big investments together with BHP’s 6.4 billion part two enlargement at its Jansen potash venture.
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Commerce and Export Growth