Agriculture and much more
Saskatchewan's economy is associated with agriculture; however, increasing diversification has meant that now agriculture, forestry, fishing, and hunting together make up only 6.8% of the province's GDP. Saskatchewan grows 45% of Canada's grain. Wheat is the most familiar crop, and perhaps the one stereotypically associated with the province, but other grains like canola, flax, rye, oats, peas, lentils, canary seed, and barley are also produced. Beef cattle production in the province is only exceeded by Alberta. Mining is also a major industry in the province, with Saskatchewan being the world leader in potash exports. In the northern part of the province, forestry is significant.
Oil and natural gas production is also a very important part of Saskatchewan's economy, with only Alberta exceeding the province in overall production. Heavy crude is extracted in the Lloydminster-Kerrobert-Kindersley areas. Light crude is found in the Kindersley-Swift Current areas as well as the Weyburn-Estevan fields. Natural gas is found almost entirely in the western part of Saskatchewan, from the Primrose Lake area through Lloydminster, Unity, Kindersley, Leader, and around Maple Creek areas.
Saskatchewan is also the world's largest supplier of uranium, and supplies much of the western world. The uranium industry is closely regulated by the provincial government which allows the government of Saskatchewan great latitude in setting world uranium prices.
Saskatchewan's GDP in 2006 was approximately C$45.051 billion, with economic sectors breaking down in the following way:
17.1 % finance, insurance, real estate, leasing
13.0 % mining, petroleum
11.9 % education, health, social services
11.7 % wholesale and retail trade
9.1 % transportation, communications, utilities
7.7 % manufacturing
6.8 % agriculture, forestry, fishing, hunting
6.5 % business services
5.8 % government services
5.1 % construction
5.3 % other
A list of the top 100 companies includes The Potash Corporation of Saskatchewan, Federated Cooperatives Ltd. and IPSCO.
Crown corporations include major Saskatchewan-based entities are, Saskatchewan Government Insurance (SGI), SaskTel, SaskEnergy (the province's main supplier of natural gas), and SaskPower. Bombardier runs the NATO Flying Training Centre at 15 Wing, near Moose Jaw. Bombardier was awarded a long-term contract in the late 1990s for $2.8 billion from the federal government for the purchase of military aircraft and the running of the training facility.
This summary courtesy Wikipedia. For more information, visit the Encyclopedia of Saskatchewan.
