Murray Wood: Drought or deluge, it's Saskatchewan weather
Murray Wood notes that while we have seen years with "perfect" weather in the province, they aren't that commo...
China’s restrictions on Canadian products — most notably canola — affected Saskatchewan’s bottom line in 2019.
According to Statistics Canada data released Tuesday, Saskatchewan’s exports to China dropped by 32 per cent last year. That contributed to a three per cent decrease in the value of Saskatchewan’s exports, to roughly $30 billion.
In a media release, the Government of Saskatchewan said the drop in exports to China “was partially offset by the growth in other emerging markets.” Those included Bangladesh (118 per cent increase), the European Union (59 per cent), the United Arab Emirates (40 per cent), India (23 per cent) and Brazil (13 per cent).
The province’s top 10 export markets in 2019 were the United States, China, the European Union, Japan, Brazil, India, Indonesia, Bangladesh, Mexico and the United Arab Emirates.
Among Saskatchewan’s top exports were crude oil, potash, wheat, pulse crops, canola oil, barley, oats, agricultural machinery and refined petroleum.
“The success of our economy depends on trade and these numbers are very encouraging, especially considering the market access issues in countries such as China,” Jeremy Harrison, Saskatchewan’s trade and export development minister, said in the media release.
“Our government has made it a priority to diversify markets for our products through trade missions and international engagement and the result of these efforts is unprecedented market diversification in a relatively short period of time.”
In November, the province unveiled its Growth Plan, which included goals for expanded exports by 2030.
With trade missions to numerous countries and with plans to open trade and investment offices overseas, the province hopes to increase the value of its exports by 50 per cent over the next decade.
