By Trelle Burdeniuk

Record harvest to boost province’s GDP: RBC

Dec 13, 2013 | 9:44 AM

Saskatchewan farmers grew more than just a record crop this year, they also grew the province's GDP.

According to the latest RBC Economics provincial outlook, Saskatchewan GDP is predicted to grow almost four per cent in 2013.

“We've got it increasing at 3.9 per cent which represents over a percentage point upward revision from what we were looking at just a quarter ago,” said Paul Ferley, assistant chief economist with RBC.

Ferley said the revision and extra growth is due to this year's great harvest of wheat, barley and canola.

“The country as a whole, we're expecting growth of under two per cent, so it's suggesting Saskatchewan's growing at more than twice the national average,” he said.

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Ferley expects the shine to come off Saskatchewan GDP growth in 2014, with projected growth of 2.1 per cent. He said that is due to not expecting another record harvest and also a slowdown in potash production.

However, he said 2014 will still be a good year for Saskatchewan as he expects oil prices to remain historically high and the employment rate to stay the lowest in Canada.

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