Retail trade booms in Saskatchewan, signalling strong economy

Saskatchewan’s retail sector is on a roll, with the latest figures from Statistics Canada showing a 5.1% increase in retail trade sales from November 2023 to November 2024. 

The seasonally adjusted sales reached $2.2 billion, ranking the province second in percentage growth among all Canadian provinces.

"Saskatchewan's nation-leading retail trade numbers demonstrate the strength of our provincial economy," Trade and Export Development Minister Warren Kaeding said. 

"This key economic indicator is reflective of our province's thriving local business sector, supported by our strong and stable leadership. The growth we are experiencing is creating new jobs and opportunities for all those who call Saskatchewan home."

The Monthly Retail Trade Survey, which tracks sales across stores and e-commerce platforms, highlights the growing consumer confidence and robust performance of businesses in Saskatchewan.

The retail growth is part of a broader economic surge in the province. Saskatchewan exports totaled over $102 billion for 2022 and 2023 combined, a staggering 52% increase from the prior two-year period. These export numbers are the highest in provincial history.

Additionally, Saskatchewan’s real GDP hit a record $77.9 billion in 2023, growing by 2.3%—nearly double the national average of 1.2%. The province also leads the nation in projected private capital investment growth for 2024, with a 14.4% increase expected, bringing total investment to $14.2 billion.

This economic momentum aligns with the government’s recently launched investment attraction strategy, Securing the Next Decade of Growth. 

As the numbers continue to climb, Saskatchewan’s economic success story is proving to be one of resilience, innovation, and opportunity.