Retail sales in Saskatchewan are on the rise according to recent data released by Statistics Canada.
Statistics Canada data shows a 5.1 per cent increase from November 2023 to November 2024.
The seasonally adjusted sales reached $2.2 billion, placing the province second among Canadian provinces for percentage growth.
Warren Kaeding, trade and export development minister said the numbers show the province’s economic strength.
“Saskatchewan’s nation-leading retail trade numbers demonstrate the strength of our provincial economy,” Kaeding said. “This key economic indicator is reflective of our province’s thriving local business sector, supported by our strong and stable leadership. The growth we are experiencing is creating new jobs and opportunities for all those who call Saskatchewan home.”
The Monthly Retail Trade Survey collects data on sales, including e-commerce, and the number of retail locations. Retail sales measure total receipts from businesses selling goods and services directly to consumers.
The province continues to see success in other key economic areas.
Meanwhile, exports in the province exceeded $102 billion over 2022 and 2023, a 52 per cent increase from the previous two years. This is the highest export total in the province’s history.
Real GDP also reached a record high of $77.9 billion in 2023, according to Statistics Canada. This represents an increase of $1.77 billion, or 2.3 per cent, from 2022. Saskatchewan’s GDP growth ranked second in the country and surpassed the national average of 1.2 per cent.
Private capital investment in Saskatchewan is expected to climb to $14.2 billion in 2024. This marks a 14.4 per cent increase over 2023, the highest growth rate forecast in Canada.
The province’s government continues to focus on attracting investment through initiatives like the “Securing the Next Decade of Growth” strategy. This strategy, paired with the trade and investment platform InvestSK.ca, aims to position Saskatchewan as the top place to do business in Canada.
Read More: Strong growth spurs Saskatchewan in 2024 – Meridian Source
