Government of Saskatchewan
Tuesday, September 19, 2017
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Overview of the Saskatchewan Economy
Description:

From coffee row to the halls of the Legislative Building, the economy is a matter of great discussion in Saskatchewan. The economy affects people’s daily lives, their incomes, their standard of living, the way they earn their living and the way they spend their time every day.

Understandably, there is much interest in the state of the economy and a positive and informed debate on policy issues can be well served by a wider and deeper understanding of economic conditions in Saskatchewan. The Saskatchewan Institute of Public Policy (SIPP) supports informed policy debate in Saskatchewan on a wide variety of public policy issues, many of which are driven by or at least affected by economic conditions in the province. To further this goal, the Institute has compiled, from published materials, an overview of the latest data on the Saskatchewan economy entitled Overview of the Saskatchewan Economy by Jim Marshall, Chief Economist at SIPP.

Economic data are sometimes difficult to fathom on their own and the placement of Saskatchewan’s performance within international, national and historical contexts helps to illustrate the strengths and weaknesses within the province’s economy. This report provides basic, factual information on conditions in the province drawn from accepted, objective external sources and compiled to provide a broad overview to allow readers to draw their own conclusions with respect to possible policy directions.

Quick facts from this report:
The Canadian economy has outperformed many other developed countries over the past five years. Canada’s average growth rate is nearly twice the growth rate in Japan, more than three and a half times the growth rate in Germany and over four times the growth rate in Italy.

In some areas, the Saskatchewan economy has done very well as compared to the overall Canadian economy. Saskatchewan’s output per person is higher than the national average and personal incomes are in the top half of the country.

Total exports from the province have grown from $10.7 billion in 1990 to about $30.4 billion in 2005. By 2005 mineral exports were about three and one-third times the level of agricultural exports and service exports were about 86 per cent higher than agricultural exports.

Capital investment in the province has remained around $7.0 billion per year, reaching another peak at just over $7.4 billion in 2005. Saskatchewan’s 2005 investment level of $7,854 per person compares quite favourably with other Canadian jurisdictions.

Overview of the Saskatchewan Economy is the first report in the SIPP Provincial Progress Report series. Further reports will address other conditions in Saskatchewan.

Author(s)

Jim Marshall


Open Document


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