Province’s 2024 Gross Domestic Product (GDP) Growth Rate is Highest Year on Record
As the end of 2025 nears, Saskatchewan continues to stand out as a national economic leader. Statistics Canada’s latest real GDP data shows the province’s real GDP grew by 3.1 per cent from 2023 to 2024 reaching $83.6 billion. This outpaces the national average of 1.7 per cent and is the highest year record for the province. This ranks the province 2nd among Canadian provinces for growth in 2024.
“Saskatchewan has one of the strongest economies in Canada, and these results show the benefits are reaching families, workers, and communities alike,” Trade and Export Development Minister Warren Kaeding said. “We are building a province where life is affordable, communities are safe, students are supported and can count on health care services. Our continued economic growth is what allows us to invest in these priorities while keeping Saskatchewan competitive and secure for the future.”
Several sectors saw numbers stabilize, while others posted strong gains. Notable increases included construction, up 9.8 per cent, agriculture, forestry, fishing and hunting, up 7.7 per cent, mining, quarrying, and oil and gas extraction, up 4.6 per cent, and health care and social assistance, up 4.8 per cent.
GDP measures the value of goods and services produced within a prescribed geographic region over a specific period of time.
This growth highlights the continued momentum of Saskatchewan’s economy.
Private capital investment in Saskatchewan increased last year by 17.3 per cent to $14.7 billion, ranking first among provinces. Private capital investment is projected to reach $16.2 billion in 2025, an increase of 10.1 per cent over 2024. This is the second-highest anticipated percentage increase among the provinces.
Last year, the Government of Saskatchewan unveiled its new Securing the Next Decade of Growth – Saskatchewan’s Investment Attraction Strategy. This strategy, combined with the province’s trade and investment website, InvestSK.ca, contains helpful information for investors and outlines why Saskatchewan is the best place to do business in Canada.