Saskatchewan's economy is booming. According to new Statistics Canada data, the province secured the second spot nationwide for month-over-month growth in building construction investment.
The report revealed a 5.7% increase in Saskatchewan's building construction investment in November 2024 compared to October 2024 (seasonally adjusted). The province also posted an impressive 11.8% year-over-year increase in construction investment from November 2023 to November 2024.
"These figures reflect the ongoing confidence people and businesses have in making long-term investments in Saskatchewan as a place to grow and succeed," Trade and Export Development Minister Warren Kaeding said.
"Increased investment in building construction strengthens our communities, supports job creation, and further positions our province as the best place to live, work, and raise a family in the nation."
Building construction investment measures the total spending value on construction projects within the province and is a critical economic indicator. Saskatchewan's broader economic performance continues to outshine expectations, with significant milestones across multiple key metrics.
Saskatchewan's exports reached over $102 billion for 2022 and 2023 combined, marking a 52% increase compared to the previous two years. This figure represents the highest export total in the province's history and underscores its growing importance in international trade.
Meanwhile, real GDP in 2023 hit a record $77.9 billion, growing by $1.77 billion or 2.3% over 2022. This exceptional growth placed Saskatchewan second among all provinces for real GDP growth, exceeding the national average of 1.2%.
Private capital investment in the province is also forecasted to rise dramatically, with projections reaching $14.2 billion in 2024. This represents a 14.4% increase over 2023, positioning Saskatchewan as the national leader in anticipated investment growth.
To sustain this momentum, the Government of Saskatchewan recently launched Securing the Next Decade of Growth — Saskatchewan's Investment Attraction Strategy. This initiative aims to leverage the province's economic strengths, attract further private-sector investment, and ensure continued growth across key industries.
With strong performances across exports, GDP, and private investment, Saskatchewan continues solidifying its reputation as an economic leader and a hub for growth and opportunity in Canada.
