The so-called Three F’s of the Saskatchewan economy – Food, Fuel and Fertilizer – are the big industries or drivers in this marketplace but how they stack up might be a bit of a surprise.
StatsCan has just compiled the provincial GDP or Gross Domestic Product numbers for last year by breaking down how the various segments of the economy contributed to the total. And it turns out this is a mining province.
Yes, despite the images of flat prairie farmland that usually depicts the Saskatchewan persona, it turns out agriculture is actually number three on this list. Mining is first followed by energy. Revenues from the mining sector, which is dominated by potash as well as uranium, account for nearly a quarter of Saskatchewan’s total economic activity at 22.5 per cent. That is down slightly from 2022 when it did account for more than a quarter of our economy.
Energy represents one-sixth of our economy at slightly less than 16 per cent. And then agricultural production which is lumped in with forestry and hunting as well as fishing account for a little under 10 per cent of our total economic activity.
