Saskatchewan is among the most prosperous economies in the world. Week after week, we see new statistics that prove our diverse economy is staying strong.
These statistics usually list percentages up or down. But what do they really mean in each sector?
Here are a few quick economic facts:
Mining
With about 30% of global potash production, Saskatchewan is the largest potash producer in the world.
With about 15% of the world’s primary uranium production, Saskatchewan is the second largest uranium producer in the world.
Cameco’s McArthur River Mine is the largest uranium mine in the world.
The Fraser Institute Annual Survey of Mining Companies: 2014 placed Saskatchewan as the most attractive jurisdiction for mining in Canada, and the second in the world behind only Finland.
Agriculture
Saskatchewan is the world’s largest lentil and pea exporter, producing 65% of the world’s lentil exports and 54% of the world’s pea exports. We supplying 10% of the world’s total exported wheat.
With 27% of the world’s mustard exports, there’s a good chance the hot dog you’re having at Yankee Stadium has mustard on it from Saskatchewan. The Cheerios you had for breakfast were likely made with Saskatchewan oats.
Saskatchewan produces approximately 49% of Canada’s canola. In fact, Saskatchewan scientists helped invent canola more than 30 years ago.
Saskatchewan exported a record $13.9 billion in agricultural and agri-food products to 153 countries around the world in 2014, a 19 per cent increase over 2013.
Energy
Saskatchewan is the second largest oil producer in Canada, accounting for 15% of the country’s total crude oil production. The United States buys more oil from Saskatchewan than from Kuwait.
In 2014, the province’s oil production reached an all-time high of 188 million barrels. The combined value of oil and gas production in Saskatchewan in 2014 was close to $16 billion.
Saskatchewan is the world’s second-largest producer of uranium, with 15% of global production. Almost 85% of Saskatchewan’s uranium is exported, with the remainder fuelling nuclear reactors in Canada.
About 4% of U.S. electrical power is generated by Saskatchewan uranium – enough to power New York City!
Manufacturing
Key manufacturing clusters include machinery, transportation and industrial equipment; food, crop and beverage processing; wood products; and chemical manufacturing. Emerging clusters include aerospace and defence, automotive accessories, and electronics and instrumentation.
Saskatchewan’s manufacturing shipments in February 2015 were $1.5 billion, the highest ever for the province according to Statistics Canada, and increase of 9.3 per cent over January.
Nearly a third of Saskatchewan’s manufacturing takes place outside its two largest cities, representing a well-dispersed industrial base.
Research and Innovation
In Saskatoon at the University of Saskatchewan, more than 700 scientists in 30 facilities are focused on agricultural science, including the Global Institute for Food Security, to develop new solutions to feed a hungry world.
Also at the University of Saskatchewan scientists are doing leading-edge nuclear research at the Sylvia Fedoruk Canadian Centre for Nuclear Innovation.
The Canadian Light Source at the U of S is Canada’s only synchrotron and one of the most advanced in the world.
In Regina, the University of Regina campus is home to the Petroleum Technology Research Centre, a leader in enhanced oil recovery and carbon capture storage research.
Prince Albert Northcote constituents are always welcome to contact me. Call 306-922-4220, visit my website at http://mlajurgens.ca or email mlajurgens@sasktel.net. My office is located at 5A 598 15 St. East across from Superstore.
