According to Statistics Canada’s estimates released on November 10, 2015, Saskatchewan posted a GDP (at basic prices in 2007 chained dollars) of $59.3 billion in 2014, an increase of 1.6 per cent from 2013. This ranked fifth among the provinces in terms of percentage growth.
A number of major economic forecasters expect Saskatchewan's economy to experience negative growth in 2015 before picking up slightly in 2016. For 2015, the average estimate for Saskatchewan is -0.5%, eighth among the provinces. Forecasts from seven private forecasters ranged from -1.1% to 0.1%. For 2016, the average real GDP growth forecast for Saskatchewan is 1.6%, sixth among the provinces and slightly above the national rate of 1.5%.
According to the latest Metropolitan Outlook from the Conference Board of Canada, the slowdown of expansion in Regina's goods-producing sector will cause the city's growth to slow to 1.9% in 2015. Slower growth in manufacturing, construction and the services sectors will cause Saskatoon's GDP to grow by a modest 1.8% in 2015. Both Regina and Saskatoon posted strong growth in 2014, with GDP increasing by 5.0% and 6.1%, respectively.
For more in-depth information about a wide range of indicators associated with Saskatchewan’s economic performance, please view the Monthly Economic Indicators Reports (MEIR).
Saskatchewan 2014 Real GDP, at Basic Prices, by Industry (Percentage of Total)
Source: Statistics Canada, CANSIM Table 379-0030 & 379-0031
Saskatchewan has what the world needs: agricultural crops to feed a hungry planet, the potash to help those crops grow, and the oil and uranium needed to fuel a global economy. Learn more in this 3-minute video on our YouTube channel.