CANADA, April 25 - Released on April 24, 2024

Retail Trade Figures Show Saskatchewan's Continued Economic Strength

Today, Statistics Canada released retail trade figures for February 2024 which places Saskatchewan second in the nation for both month-over-month and year-over-year growth. The province saw retail trade increase by 3.9 per cent, or more than three times the national average, in February 2024 compared to February 2023, with the total value reaching $2.1 billion (seasonally-adjusted). Retail trade also went up by 1.7 per cent per cent (seasonally-adjusted) in February 2024 compared to January 2024. This places Saskatchewan well above the national decrease of negative 0.1 per cent.

"The continued growth in retail trade is indicative of the overall strength of the province's economy," Trade and Export Development Minister Jeremy Harrison said. "These numbers, along with another record-breaking year of exports, is a clear sign that Saskatchewan is open for business. This success creates jobs and opportunities for the people who call this province home."

The Monthly Retail Trade Survey compiles data on sales, including e-commerce sales, and the amount of retail locations by province, territory and selected census metropolitan areas from a sample of retailers. 

Retail sales is a measure of total receipts at stores, or establishments, that sell goods and services to final consumers. 

Today's announcement builds on further encouraging news for the province on the economic front. The Saskatchewan Trade and Export Partnership recently released their State of Trade report which shows that Saskatchewan reached several export milestones in 2023. This includes agri-food exports totaling over $20.2 billion and agricultural equipment exports of nearly $835.0 million. Both figures represent record exports in their respective categories. 

To spur further economic growth, the province also recently launched Securing the Next Decade of Growth: Saskatchewan's Investment Attraction Strategy, along with a new investSK.ca website. This brand-new strategy and website will be tools for attracting investment into Saskatchewan.

For more information, visit: investSK.ca.

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