Media Release – STEP State of Trade
Regina, Saskatchewan – The Saskatchewan Trade and Export Partnership (STEP) annual State of Trade Report released today notes that the total value of Saskatchewan exports to the world reached $31.2 billion in 2018 marking an 11.2 percent increase over 2017. This represents the highest total export value following the $35 billion peak in 2014.
Minister of Trade and Export Development, Jeremy Harrison, said that exports are critical to a healthy and growing provincial economy.
“Saskatchewan exporters are among the best in the world, and when provided with a level playing field, they can compete and succeed on the international stage”, Harrison said. “It is critical that governments at all levels support export infrastructure and maintain healthy relationships with governments in our key markets.”
In spite of the uncertainly created by the renegotiation of the Canada-U.S. free trade agreement, the report notes that exports to the U.S. increased by 14.7 percent to $17.3 billion maintaining their position as the number one market for Saskatchewan products. However, with 44 percent of total exports shipped to non-U.S. countries, Saskatchewan remains the province with the most diversified market portfolio. Exports to China increased by 31.1 percent to $4.6 billion in 2018. Japan, Brazil, and Mexico rounded out the top five international market destinations.
On the downside, exports to India dropped 46.1 percent in 2018 to $618 million due almost exclusively to the punitive tariffs placed on the imports of peas and lentils with total value of exports for these products falling by 87.2 percent and 83.0 percent respectively.
STEP is forecasting a conservative four percent increase in exports in line with Export Development Canada’s outlook for Saskatchewan exports in 2019.
STEP is a membership driven, government/industry partnership, designed to promote the growth of Saskatchewan’s export industry.
For more information, please see the 2018 State of Trade Report.
For more information contact:
Chris Dekker, President & CEO
Saskatchewan Trade & Export Partnership (STEP)
Telephone: 306 787 1550
Deb Young, Media Relations Manager
Ministry of Trade and Export Development
Telephone: 306 787 4765