Saskatchewan's Economy
Saskatchewan has a wealth of resources that is the envy of nations – agriculture, potash, uranium and other critical minerals, as well as oil. And the world is watching as Saskatchewan achieves technological firsts in crop science, plant protein, agricultural equipment, and renewable energy.
The province has a diversity of resources that has enabled it to weather global economic cycles. In fact, the province has seen record population, employment, investment and export growth in the past decade.
Gross Domestic Product
Although global commodity price declines have affected Gross Domestic Product (GDP) in recent years, Saskatchewan has experienced steady GDP growth over the past decade. The province posted a GDP of $76.7 billion in 2022, an increase of 6.0% from 2021, the highest percentage increase among the provinces.
Investment
Saskatchewan has experienced a remarkable growth in investment in the past decade. Between 2013 and 2022, Saskatchewan’s new capital investment was estimated at $154 billion.
Source: Statistics Canada, Table 34-10-0038-01
The Fraser Institute Annual Survey of Mining Companies: 2022 ranked Saskatchewan as the top jurisdiction in Canada for mining investment. Saskatchewan is also the most attractive jurisdiction in Canada for oil and gas investment in the Fraser Institute's Canada-US Energy Sector Competitiveness Survey 2022.
The Government of Saskatchewan is committed to creating a fiscally stable economy. Saskatchewan maintains strong credit ratings with both Moody's Investor Services (AA1 credit rating) and Standard & Poor's (double A credit rating).