With a large land mass and a small population base, Saskatchewan is a distinctly unique economy that relies more heavily on trade than any other in Canada.
This equation is quite simple actually. With just over a million people, our domestic market is comparatively small. Imagine, for example, how much land would go out of production if Saskatchewan farmers could only sell to Saskatchewan consumers. That illustrates clearly how much we rely on outsiders to buy the things we produce here.
That’s why a report tabled by the provincial government this week is so important. It shows that last year, our exports to the US were nudging up against the $30 billion mark for the first time. That comes shortly after we set another record with sales to Mexico topping $1 billion.
The big-ticket items destined for the US include crude oil. It is by far the largest income generator, accounting for $13 billion in sales or nearly half of our US trade. At $6.5 billion, potash was next and canola claimed third spot, generating revenues of nearly $2.5 billion.
