Released on July 16, 2008
Saskatchewan had the highest percentage growth rate in the nation for international exports in May, up by an astounding 63.3 per cent to $3.05 billion when compared with May 2007 (seasonally unadjusted). That compares with a national increase of only 3.5 per cent over the same period. The latest figures released today are for the international export of goods from Saskatchewan and the value of manufacturing shipments.
Manufacturing shipments in May were also up, with Saskatchewan figures experiencing the third largest growth rate (seasonally unadjusted), up 25 per cent. Newfoundland and Labrador increased by 39.1 per cent, while New Brunswick was up 49.5 per cent. Nationally, manufacturing shipments declined by 2.8 per cent between May 2007 and May 2008.
"Exports and manufacturing increases have been going up, and this trend is continuing over the last several months," Enterprise and Innovation Minister Lyle Stewart said. "When you look at our export figures, and the 63.3 per cent increase, it is easy to say our economy is red-hot at the moment, with no sign of cooling off. And our government is working hard to ensure this economic momentum continues."
The increase in international exports came primarily from higher agriculture products, oil and potash. In the first five months of 2008, international exports of goods increased by 44 per cent to $11.8 billion when compared to the first five months of 2007. The percentage increase was the highest in the nation.
On a seasonally adjusted basis, Saskatchewan's manufacturing shipments were up by 8.6 per cent between April 2008 and May 2008, the highest increase in Canada, and well above the national figure of 2.7 per cent.
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For more information, contact:
Deb Young
Enterprise and Innovation
Regina
Phone: 306-787-1691
Email: Deb.Young@gov.sk.ca