Saskatchewan exports keep booming in 2012; outshines B.C for the first time

The total exports by Saskatchewan province surged higher in 2012 to beat B.C for the first time in history

REGINA (Scrap Monster) : The total exports by Saskatchewan province surged higher in 2012 to beat B.C for the first time in history. The boom in exports was mainly aided by the accelerated demand from the traditional domestic markets as well as the emerging economies around the world.

The total exports from Saskatchewan during 2012 touched record highs of $32.6 billion worth of products. The exports have surged by nearly 10% in comparison with the previous year. Saskatchewan is ranked fourth in the top exporters and has surpassed B.C for the first time in history.

The domestic demand continued to remain strong. The exports to emerging economies recorded a big jump during the last decade. According to statistics, trade with China and  Bangladesh more than doubled in the past four to five years. The following table illustrates the surge in exports from Saskatchewan to various countries of the world during the period from 2008 to 2012.

Country

Exports(In 2008)

Exports (In 2012)

% Growth

China

$1.2 billion

$2.5 billion

108.33

Indonesia

$601 million

$786 million

30.78

Mexico

$507 million

$734 million

44.77

Brazil

$396 million

$693 million

75.00

Bangladesh

$114 million

$279million

144.73

 

Three categories of products constituted nearly 87% of the total exports during the year. The province exported $11.2 billion food which includes grains and oilseeds, livestock and meat products; $11 billion energy which comprises of oil, natural gas and coal; $ billion potash. Other main product categories which topped the exports were manufacturing products including lumber and wood products;  and uranium.

The government trade missions and the activities of the Saskatchewan Trade and Export Partnership (STEP) have contributed immensely to the record growth in exports.