Released on September 18, 2008
Wholesale trade in Saskatchewan surged far ahead of the national curve on the strength of extraordinary continued growth in July, figures from Statistics Canada show.
On a seasonally-unadjusted basis, wholesale trade in Saskatchewan increased in July 2008 by a remarkable 72.8 per cent to almost $2 billion, compared to $1.1 billion in July 2007. This was by far the highest percentage increase among the provinces, while nationally wholesale trade was up by 10.6 per cent over the same period. Statistics Canada reported that higher international demand for agricultural products such as fertilizers was behind much of the increase.
Seasonally-adjusted, wholesale trade in Saskatchewan also led the nation by a large margin, up by 10.4 per cent in July 2008 compared to June 2008, with the national average up 2.3 per cent. This was again easily the highest percentage increase among the provinces.
"We are seeing Saskatchewan's economic muscle again having a larger and dramatic influence by significantly pushing up Canada's national averages," Enterprise and Innovation Minister Lyle Stewart said. "Our province has been undergoing a transformation into an economic heavyweight in a number of categories. We know this success, growth and prosperity can be successfully sustained and managed, and we intend to be an example to other jurisdictions of how to keep it going, growing and moving onward to everyone's benefit."
In the first seven months of 2008, wholesale trade in Saskatchewan totalled $12.2 billion, an increase of 40.8 per cent, compared to the same period in 2007 (seasonally-unadjusted). This was once more the highest percentage increase among the provinces, exceeding the national average of 2.3 per cent.
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For more information, contact:
Jamie Shanks
Enterprise and Innovation
Regina
Phone: 306-798-0503
Email: jamie.shanks@gov.sk.ca