Retail Trade Remains Strong in Saskatchewan

CANADA, January 24 - Released on January 24, 2025

Province Ranks Second in Year-Over-Year Retail Trade Growth

Latest data released by Statistics Canada shows retail trade sales in the province increased by 5.1 per cent from November 2023 to November 2024 (seasonally adjusted), reaching $2.2 billion. This ranks second in terms of percentage change among the provinces.

"Saskatchewan's nation leading retail trade numbers demonstrate the strength of our provincial economy," Trade and Export Development Minister Warren 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 compiles data on sales, including e-commerce sales, and the amount of retail locations by province, territory and selected census metropolitan areas from a sample of retailers.

Retail sales is a measure of total receipts at stores, or establishments, that sell goods and services to final consumers.

The province continues to see economic success across several key indicators. Saskatchewan exports totalled over $102 billion for 2022 and 2023 combined. This is an increase of more than 52 per cent from the previous two-year period, and the highest export numbers in the province's history. 

Statistics Canada's latest GDP numbers indicate that Saskatchewan's 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.77 billion, or 2.3 per cent from 2022. This places Saskatchewan second in the nation for real GDP growth, and above the national average of 1.2 per cent.

Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada.

The Government of Saskatchewan also unveiled its new Securing the Next Decade of Growth - Saskatchewan's Investment Attraction Strategy last year. 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.  

To learn more, visit: investSK.ca.

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