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ECONOMIC MOMENTUM CONTINUES

Released on February 22, 2008

New annual updates on three economic indicators confirm Saskatchewan continues to be on a roll.

Wholesale trade, retail sales and export sales totals for 2007 were released by Statistics Canada this week. Saskatchewan leads the nation in percentage growth for wholesale trade and retail sales, and ranked second in export sales growth according to the reports.

"Our province had an excellent economic performance in 2007, with a number of strong indicators including wholesale trade, retail sales and exports," Enterprise and Innovation Minister Lyle Stewart said. "The Premier and our new government believe this economic momentum can continue, and are confident that through investments in infrastructure and good financial management, 2008 will be another great year for Saskatchewan."

In the retail sales report released today, Saskatchewan is tops in Canada for 2007. In 2007, there was a 12.9 per cent increase in retail sales in the province, well above the national average of 5.8 per cent. Retail sales in the province for 2007 reached a new record level, totalling $13 billion. On an annual basis, Saskatchewan dominated retail sales in 2007 with the percentage increase almost twice as high as the previous year's growth and the highest rate for the province since the start of the series in 1991.

Statistics Canada released the figure on the value of international exports on Wednesday. International exports of goods increased by 25 per cent in Saskatchewan for 2007, the second highest increase in Canada, and up to $20.1 billion. This is the first time the annual value of international exports of goods has surpassed $20 billion.

Earlier released wholesale trade figures showed Saskatchewan posting a 14.2 per cent increase in 2007 over 2006, three times more than the 4.8 per cent national average for the year. Manitoba had the fourth highest increase at 8.3 per cent, Alberta scored the fifth highest at six per cent, and B.C. was eighth highest with 5.2 per cent. Saskatchewan's wholesale sales totalled $15.5 billion for 2007.

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For more information, contact:

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

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