Released on May 16, 2022
Province Leads Nation in Key Economic Growth Indicators
For the second month in a row, Saskatchewan is leading the nation in year-over-year growth in the two key indicators of manufacturing sales and wholesale trade.
"The strong Saskatchewan economy continues to grow and lead the country," Trade and Export Development Minster Jeremy Harrison said. "These significant double-digit growth rates in manufacturing sales and wholesale trade - and both by a wide margin over the provinces with the second highest growth rates - shows our province is open for business and we are poised to further increase our exports around the world."
In March 2022, the value of wholesale trade in Saskatchewan increased by 28.9 per cent (seasonally adjusted) compared to March 2021, which was first in terms of percentage change among the provinces. The increases in year-over-year wholesale trade were led by the farm products, food and beverage, and miscellaneous merchant wholesalers categories.
Saskatchewan's manufacturing sales increased by 44.6 per cent (seasonally adjusted) in March 2022 compared to March 2021, which was also first in terms of percentage change among the provinces. The manufacturing sales increase (year-over-year) was led by increases in the chemical, food, and wood products manufacturing subsectors.
The total value of wholesale trade in Saskatchewan in March 2022 was approximately $3.2 billion. The total value of Saskatchewan's manufacturing sales in March 2022 was more than $2.2 billion.
Urban housing start numbers for April 2022 were also released today. Compared to April 2021, urban housing starts in Saskatchewan increased by 43.6 per cent, which was third in terms of percentage change among the provinces. In the first four months of 2022, they increased by 28.4 per cent compared to the same period in 2021.
For more information, contact:Robin Speer