Media Release – 2024 Saskatchewan State of Trade
Regina, Saskatchewan — Saskatchewan Exports Continue to Reach New Markets in 2024
Today, the Government of Saskatchewan and the Saskatchewan Trade and Export Partnership (STEP) released the province’s annual State of Trade report. The report, which outlines provincial trade highlights for 2024, reveals that it was the third-highest export year for Saskatchewan, with the total value of exports reaching $45.4 billion.
“Saskatchewan is providing much needed certainty as we move through a time of global trade shifts,” Trade and Export Development Minister Warren Kaeding said. “Our exporters, manufacturers, and producers remain suppliers of choice as we bring food and energy security to countries around the world. This creates jobs, economic opportunities and a high standard of living for all who call our province home.”
Uranium saw impressive growth, with the value of exports increasing by 50 per cent. Total uranium exports reached $2.8 billion, surpassing the Saskatchewan Growth Plan target of $2 billion. Potash also reached a record volume of exports, totaling 22,807,489 metric tonnes.
Saskatchewan continues to be an exporter of choice internationally. Goods from the province reached 161 countries in 2024. India became the province’s third-largest export market behind the U.S. and China, with the value of exports to the country increasing by 12.2 per cent in 2024.
“Amid the unprecedented trade uncertainties in 2024, Saskatchewan demonstrated resilience and growth across key sectors, with many major commodities maintaining or increasing their volumes,” STEP Interim CEO Angela Krauss said. “The province’s export foundation remains strong, and we are committed to diversifying our markets and strengthening essential trade relationships.”
According to the report, the volumes of most major exports maintained or increased from 2023 levels. In terms of volume, exports of canola seed increased 25 per cent from 2023 to 2024. Canola meal exports increased 14 per cent in volume from 2023 to 2024. The top export products for the province include crude petroleum oil, potash, canola seeds and oil, wheat, uranium, lentils and dried peas.
The provincial economy continues to see substantial growth. In 2007, the value of Saskatchewan exports was $19.8 billion, which has since climbed to nearly $50 billion on average over the past three years.
STEP is a membership driven, government/industry partnership, designed to promote the growth of Saskatchewan’s export industry.
Statistics Canada’s latest GDP numbers indicate that Saskatchewan’s 2024 real GDP reached an all-time high of $80.5 billion, increasing by $2.6 billion, or 3.4 per cent from 2023. This places Saskatchewan second in the nation for real GDP growth and above the national average of 1.6 per cent.
For more information, read the Saskatchewan State of Trade Report 2024, and visit investSK.ca.
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For more information contact:
Media Relations
Saskatchewan Trade & Export Partnership (STEP)
Phone: 306 526 7287
Email
Media Relations
Trade and Export Development, Regina
Phone: 306 526 6302
Email
