Saskatchewan | Production Week News and Media | So Good News
Published on November 25, 2022.
The Government of Saskatchewan has recognized this week as Manufacturing Week in the province to celebrate the significant contributions of the manufacturing sector to Saskatchewan’s economy.
“Our government is proud of the continued growth in the manufacturing sector, which is a key generator of jobs and business opportunities in our state,” said Trade and Export Development Minister Jeremy Harrison. “Manufacturing is a key contributor to keeping Saskatchewan competitive in domestic and international markets. Manufacturing Week is a great opportunity to recognize those involved in this important sector.”
Manufacturing continues to be an important area of economic growth and diversification in Saskatchewan. The manufacturing sector contributed $5.1 billion to Saskatchewan’s total 2021 real GDP of $77.4 billion. This represents about 6.6 per cent of Saskatchewan’s GDP, which is an increase of 0.5 per cent over the previous year.
The Government of Saskatchewan has released a report titled Overview of the Manufacturing Sector in Saskatchewan 2022. The report states that manufacturing GDP, number and size of businesses; employment Shipping Provides information on income and capital investment.
- Employment in the manufacturing sector in Saskatchewan is expected to grow by 2.9% by 2021. This increase was partly due to growth in global and domestic demand.
- Saskatchewan has 1,892 manufacturing businesses in 2021, the majority (94.1%) of which are small businesses.
- Saskatchewan’s international product exports will total $7.6 billion by 2021, accounting for 20.6% of Saskatchewan’s net exports.
- Between 2020 and 2021, Saskatchewan’s manufacturing exports will increase by 33.2% (second highest among the provinces).
Saskatchewan’s growth plan includes a goal to increase the value of manufacturing by 50 percent by 2030. Saskatchewan to have competitive tax and regulatory frameworks for investment; This goal will be achieved by providing expanded access to Canadian and international markets for Saskatchewan producers. Creating incentives to improve efficiency and accelerate investment.
For more information, Contact:
Trade and export development