Soaring Retail Trade Growth Reflects Economic Strength

CANADA, March 21 - Released on March 21, 2025

Year-Over-Year and Month-Over-Month Retail Trade Ranks Second Among the Provinces

Today, Statistics Canada issued new figures indicating a year-over-year increase of 8.8 per cent in Saskatchewan's retail trade sales from January 2024 to January 2025 (seasonally adjusted). Saskatchewan also saw a month-over-month increase of 2.7 per cent from December 2024 to January 2025. Both of these increases ranked second among the provinces in terms of percentage change.

"The rise in Saskatchewan's retail trade reflects the positive economic impact of our local businesses and their contribution to the province's strong economy," Trade and Export Development Minister Warren Kaeding said. "The support and demand for made in Saskatchewan products, helps create more jobs and opportunities, while stimulating the economy, allowing for continued investments into services benefiting Saskatchewan people." 

The value of retail trade in Saskatchewan reached $2.2 billion in January 2025 (seasonally adjusted).

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.

Several other key economic indicators are also trending upward in the province. Statistics Canada's latest GDP numbers indicate that Saskatchewan's 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.8 billion, or 2.3 per cent. This ties Saskatchewan for second in the nation for real GDP growth and above the national average of 1.6 per cent.

Private capital investment in Saskatchewan increased last year by 17.3 per cent to $14.7 billion, ranking first among provinces for growth. Private capital investment is projected to reach $16.2 billion in 2025, an increase of 10.1 per cent over 2024. This is the second highest anticipated percentage increase among the provinces.

Last year, the province released Securing the Next Decade of Growth: Saskatchewan's Investment Attraction Strategy, in conjunction with the launch of the InvestSK.ca website. These initiatives are positioned to amplify growth in Saskatchewan, serving as pivotal instruments in driving further development. 

For more information visit: InvestSK.ca.

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