It may not feel like it but the value of the US dollar is dropping on the world stage and that has an impact on.
Since most global commodities – the mainstay of our provincial economy – are valued in US dollars, fluctuations between the American and Canadian currency play a role in overall income for this province.
We have now obtained the year-end report on our exports from 2024 and it shows we had our third-best year at $45 billion, a decline in the total dollar value of shipments from Saskatchewan to buyers beyond our borders. But here’s the interesting angle … shipments or actual volume was virtually unchanged for most commodities or maybe even slightly higher.
We also saw India moved into third place on our list of best customers. The US is in top spot followed by China. India moved up to third, replacing Brazil.
Potash volumes were virtually unchanged but the value of those shipments fell 30-percent. On the other side of the ledger, uranium revenues rose by 50-percent on price and volume growth.
