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SASKATCHEWAN PEOPLE CONTINUE TO SHOW CONFIDENCE IN A GROWING ECONOMY

Released on April 23, 2008

Saskatchewan's economy continues to shine according to a number of reports and indicators out this past week.

Retail sales, international export of goods, wholesale trade and new motor vehicle sales all show Saskatchewan at or near the top of the list when compared to other provinces on a percentage increase basis.

Retail sales figures for February 2008 released today show Saskatchewan again tops the nation in percentage increase over the last year. Sales jumped by $165 million to $952 million, a 21 per cent increase over February 2007, over twice the 10.2 per cent recorded for the national average.

"When the good news keeps on coming, Saskatchewan business people, citizens, and more importantly, potential investors take note of the wide range of economic activity taking place in the province today," Enterprise and Innovation Minister Lyle Stewart said. "The opportunities are here - the forecasts are bright - and these statistics and reports verify the best place to do business in Canada is Saskatchewan."

International exports of goods recorded a 24 per cent increase in February 2008 when compared to last February according to a report from Statistics Canada last week. Saskatchewan had the second largest increase among the provinces behind Alberta at 30.9 per cent, and significantly higher than the 1.8 per cent average for Canada.

Another export report by Export Development Canada (EDC) was out earlier this week, and also suggests Saskatchewan will lead the nation this year for percentage growth of exports. The province is forecast to see a 13 per cent rise in exports over 2007 according to the EDC report.

In February, wholesale trade totalled $1.1 billion, an increase of 24.7 per cent from last year, and exceeding the 2.1 per cent average for the nation. Saskatchewan had the highest percentage increase on a provincial basis.

New motor vehicle sales rose 31.9 per cent in February 2008 from last February, the third highest percentage increase in Canada.

"Never before in our history has Saskatchewan experienced this level of economic growth," Stewart said. "Our government is committed to ensuring this growth continues and that all Saskatchewan people continue to benefit."

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For more information, contact:

Deb Young
Enterprise and Innovation
Regina
Phone: 306-787-1691

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