Saskatchewan Surpasses $100 Billion In Exports Over Two Years

Released on May 14, 2024

The Province's Exports for 2022-2023 Reached Record Highs

Saskatchewan's exports continue to soar, totaling over $101.9 billion for 2022 and 2023 combined. This is a 52.2 per cent increase from the previous two-year period of 2020-2021, which saw $66.9 billion in total exports. 

"Saskatchewan is seeing unprecedented export growth; this success is only possible through building strong relationships with our international partners," Trade and Export Development Minister Jeremy Harrison said. "As a province that exports nearly 70 per cent of everything we produce, growing and diversifying our customer base is critical to the success of our economy. Our producers and exporters offer the sustainable and high-quality products the world needs, and we are now seeing those products expand to more markets than ever before." 

In 2022-23, the province saw significant growth in exports to the United Kingdom (209.4 per cent), Brazil (131.3 per cent) and the United States (70.4 per cent) when compared to 2020-2021. Countries with some of the highest total export value include the United States, Brazil, India, Japan, Mexico and Indonesia. 

Saskatchewan also saw impressive growth for key export products. In 2022-2023, exports of uranium increased by 1525.3 per cent, potash by 112.0 per cent and crude oil by 82.1 per cent when compared to 2020-2021. Other top commodities included wheat, canola oil and lentils.

Saskatchewan's network of nine international trade and investment offices has been instrumental in connecting the province to global markets, which, in turn, benefits the local business community. With new investments flowing in, and doors to international markets being opened, the province is well-positioned to provide the food, fuel, fertilizer and critical minerals the world needs.

Saskatchewan continues to see growth in other key sectors of the economy. Statistics Canada's latest GDP numbers show Saskatchewan's 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.2 billion. This places Saskatchewan second in the nation for real GDP growth, and above the national average of 1.2 per cent.

The Government of Saskatchewan recently unveiled its new Securing the Next Decade of Growth - Saskatchewan's Investment Attraction Strategy. This strategy combined with Saskatchewan's trade and investment website, InvestSK.ca, contains helpful information for potential markets and solidifies the province as the best place to do business in Canada.

For more information visit: www.InvestSK.ca.

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