Saskatchewan Leads Country in Wholesale Trade Growth
Year-Over-Year Wholesale Trade Increased by 29.4 per cent to $3.3 Billion
Saskatchewan’s economy continues to show incredible strength.
In April 2022, the total value of wholesale trade in Saskatchewan was more than $3.3 billion, an increase of 29.4 per cent (seasonally adjusted) between April 2021 to April 2022, the highest increase among the provinces.
“Strong wholesale trade numbers are yet another sign of the strength of Saskatchewan’s economy,” Trade and Export Development Minister Jeremy Harrison said. “With significant investment coming into our province and a continued focus on international engagement, we will continue to tell Saskatchewan’s story to the world.”
The top performing sectors that drove this year-over-year growth included farm products, up 26 per cent, food and beverage, up 9.0 per cent, and miscellaneous merchant wholesalers’ products, up 70 per cent.
Saskatchewan has continued to show strength in a number of other key economic indicators. In March 2022, the value of retail trade increased by 7.7 per cent year-over-year, the highest increase among the provinces. In April 2022, the value of manufacturing sales increased by 26.9 per cent year-over-year. That same month, the value of merchandise exports increased by 34.1 per cent year-over-year and by 29.7 per cent year-to-date. In May 2022, the unemployment rate fell to 4.8 per cent, 19,800 jobs were added year-over-year, and a number of all-time high employment records were hit, including overall employment (587,000), female employment (272,300), off-reserve Indigenous employment (65,800), and off-reserve Indigenous full-time employment (54,100).
A recent report from the Conference Board of Canada projects that Saskatchewan’s economy will lead the country with real GDP growth of 7.9 per cent in 2022, well above the national average of 4.0 per cent.