Can You Say Global Trader?

You can add another indicator to the suggestion that SaskaBoom 2.0 may be upon us.

Economists around the world have recently been noting the trend towards stronger commodity prices and, for a province like Saskatchewan which relies heavily on exports of products such as potash, lumber, oil and farm products, this is an important development.

And that idea that our economy is entering a growth cycle on the strength of renewed global demand for commodities is borne out in the trade numbers for March.

StatsCan noted Canada slipped back into a trade deficit in March but Saskatchewan was certainly not the reason. Our primary exports were up 26-percent from February. That was the most significant improvement in the country.

The gains were widespread: the value of forestry and building product exports rose almost 80 percent from last year, energy was up 36 percent and food rose 20%. But it was minerals – principally potash – that was big mover….rising almost 150% so far this year and nearly double the level we were seeing a year earlier.