Saskatchewan+Economics

= = =Saskatchewan Economics =
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Exchange rate: According to Yahoo! currency converter, 1 American dollar equals $.95 in Canadian dollars. Currency Converter

Imports and Exports:  Exports of agricultural products are a mainstay of the Saskatchewan economy. The province is endowed with one of the world’s most important agricultural resource bases. Saskatchewan’s cold winters, however, mean that fresh fruits and vegetables are not available locally in winter months and must be imported. Of course, tropical products are also imported. Saskatchewan is one of Canada’s most successful trading provinces. Over 40% of the province’s gross domestic product is derived from exports; in terms of agricultural goods and services, the contribution of exports is considerably greater. While this export success is something the farm and agribusiness sector can look on with pride, it is also a source of vulnerability for the province. In normal years, Saskatchewan exports nearly $2 billion in wheat. Wheat exports, along with international sales of barley ($150 million/year) are coordinated by the Canadian Wheat Board, a uniquely Canadian state trading agency. Taken from: Encyclopedia of Saskatchewan Gross Domestic Product: After more than a century of commercial development, the provincial gross domestic product in 2008 was $41.6 billion, equal to about 3% of the Canadian economy. The average per capita income was approximately $35,400, equal to about 96% of the national average. The provincial average per capita income in 2008 was almost four times the global average and would earn Saskatchewan a position among the most affluent regions in the world.

Saskatchewan Employment: An estimated 486,800 people were employed on average during 2003, approximately 80% in full-time jobs and 20% in part-time work; 68% of all employed workers had some formal education beyond high school (26% with university degrees), 24% simply had high school, and 19% had not completed high school. The average weekly earnings, including overtime, for employed workers in Saskatchewan was about $610-about 10% less than the national average. In total, 29,000 workers on average were unemployed over the year, representing 5.6% of the provincial labor force; those unemployed people were without work for about 18 weeks. The sectors with the largest numbers of employed persons in 2005 were trade, 78,300; health care and social services, 58,100; agriculture, 46,600; educational services, 38,800; manufacturing, 30,300; accommodation and food services, 29,700; public administration, 27,200; construction, 26,300; finance, insurance, and real estate and leasing, 25,700; transportation and warehousing, 24,900; other services, 22,600; information, culture, and recreation, 20,300; forestry, fishing, mining, and oil and gas, 18,600; professional, scientific, and technical services, 18,000; business and other support services, 13,400; and utilities, 4,600. Taken From : Saskatchewan's Economy