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Saskatchewan’s economy benefits from an increase in wholesale trade

Sathia Kumar

The total value of Saskatchewan’s wholesale trade was $5.1 billion in April 2023.

Statistics Canada released April 2023 wholesale trade data today, showing a 45.7 percent (seasonally adjusted) increase in Saskatchewan compared to the previous year. Among the provinces, this was the third-highest percentage change.

In April 2023, Saskatchewan’s wholesale trade was worth $5.1 billion.

According to Trade and Export Development Minister Jeremy Harrison, “Saskatchewan’s economy continues to grow at a healthy pace from the hard work of our producers and manufacturers.” Saskatchewan has the food, fuel, and fertilizer that the world needs, as evidenced by the current rise in wholesale trade.”

With an increase of over 300 percent and a total of $931 million (seasonally adjusted), farm products led the year-over-year growth.

In recent weeks, the Conference Board of Canada released a report predicting that Saskatchewan will lead the nation in terms of economic growth for 2023 and 2024. Saskatchewan is still one of the best states, even though there is a slowdown coming to the country as a whole. In 2023, GDP is expected to grow by 2.5%, and it is expected to grow by 1.9% in 2024.

According to the most recent State of Trade Report, Saskatchewan’s exports to the rest of the world will reach a record-breaking $52.6 billion in 2022. This is the highest amount ever recorded for the province, 42% higher than the previous record of $37 billion set in 2021.

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