Saskatchewan’s Exports Hit Record High, Semi-Chemical Wood Pulp Up 51%
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Saskatchewan Trade and Export Partnership (STEP) and the Government of Saskatchewan released their annual State of Trade report for Saskatchewan. The report notes that the total value of Saskatchewan exports to the world reached a record breaking $52.6 billion in 2022. This marks the highest figure ever recorded in the province's history and 42 per cent higher than the 2021 record of $37 billion.
As an export driven province, the economy of Saskatchewan is directly tied to the ability to compete and thrive in the international marketplace. The world needs the resources the province produces, and Saskatchewan is taking a leading role in ensuring it remains in a competitive global position.
"Saskatchewan exporters are among the best in the world, and our province continues to prove that we have the food, fuel and fertilizer the world needs," Trade and Export Development Minister Jeremy Harrison said. "These record exports show that businesses and industries in our province continue to be a dependable supplier of sustainable resources our partners need."
"Saskatchewan businesses are among the most knowledgeable and sophisticated exporters in the world," STEP CEO Chris Dekker said. "Given a level playing field, we can compete with anyone on the international stage."
A significant portion of export growth was driven by potash sales, which overtook crude oil as the number one Saskatchewan export. However, oil exports also increased by over 50 per cent in 2022. While potash and oil now account for 56 per cent of the province's exports, agri-food and manufactured goods also had record years, demonstrating the diversity and robustness of Saskatchewan's economy.
Non-agriculture manufacturing and processing export growth was led by increases in semi-chemical wood pulp (50.8 per cent) and no-till direct seeders (87.7 per cent).
