Gold Saskatchewan Provincial Economic Accounts. January 2018 Edition. Saskatchewan Bureau of Statistics Ministry of Finance

Transcription

1 Gold Saskatchewan Provincial Economic Accounts January 2018 Edition Saskatchewan Bureau of Statistics Ministry of Finance

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3 Contents Introduction and Overview... 1 Introduction... 1 Revisions in the January 2018 Edition... 1 Overview and Highlights of Basic Concepts of the Economic Accounts... 3 Saskatchewan Provincial Economic Accounts Tables Section 1: Income Account... 7 Current Dollar (Nominal) GDP at Market Prices (1981 to 2016)... 7 Compensation of Employees, by Industry (1981 to 2016) Household Current Accounts (1981 to 2016) Household Property Income (1981 to 2016) Section 2: Expenditure Account Current Dollar (Nominal) GDP at Market Prices (1981 to 2016) Final Consumption of Households (1981 to 2016) Gross Fixed Capital Formation, by Industry (1961 to 2016) Exports of Goods and Services (1981 to Imports of Goods and Services (1981 to 2016) Chained (2007) Dollar (Real) GDP at Market Prices (1981 to 2016) Contribution to Per Cent Change (1982 to 2016) Final Consumption of Households (1981 to 2016) Gross Fixed Capital Formation, by Industry (1961 to 2016) Section 3: Output (By Industry) Account Current Dollar (Nominal) GDP at Basic Prices (2007 to 2014) GDP by Metropolitan Area (2009 to 2013) Chained (2007) Dollar (Real) GDP at Basic Prices (1997 to 2016) January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page i

4 INTRODUCTION AND OVERVIEW Introduction The Saskatchewan Provincial Economic Accounts (SPEA) provide the principal estimates of aggregate economic activity in Saskatchewan. The main source of data is the Provincial and Territorial Economic Accounts (PTEA) produced by Statistics Canada. Revised editions of the SPEA are produced following the availability of substantial new data. Revisions in the January 2018 Edition The January 2018 Edition of the SPEA incorporates Statistics Canada s revisions to Saskatchewan s macroeconomic data released up to the end of These revisions reflect new estimates of economic activity as well as detailed import and export data. The revisions in the January 2018 Edition of the SPEA are extensive. Data coverage has been expanded to include detailed import and export data, and preexisting figures have been revised back to SPEA users should be aware that data in previous editions has been revised. In addition to the expanded coverage and data revisions, the standard print-friendly PDF version of the SPEA has been augmented with an Excel spreadsheet version for ease of data accessibility. Both versions are available at Overview and Highlights of 2016 Current Dollar (Nominal) GDP In 2016, Saskatchewan s nominal GDP decreased by 4.0 per cent ($3.1 billion) to $75.3 billion. The dramatic decline of $3.1 billion in nominal GDP masks significant changes in some components of GDP. The most dramatic change occurred in Saskatchewan s trade surplus, which declined by $2.6 billion to $2.9 billion in Gross fixed capital formation also declined by $2.3 billion (10.2 per cent); this follows on a $4.3 billion (15.9 per cent) decline in Partially offsetting the negative forces was an increase of $1.0 billion (1.9 per cent) in final consumption. January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 1

5 30 Real and Nominal GDP Growth Rates to Real GDP Nominal GDP Per Cent Year Average Chained 2007 Dollar (Real) GDP In 2016, Saskatchewan s real GDP decreased by 0.5 per cent ($0.3 billion) to $62.5 billion. The slower-than-normal pace of growth can be attributed to a significant contraction in gross fixed capital formation, which declined by $2.3 billion (12.3 per cent). Partially offsetting the declines in gross fixed capital formation was an increase in Saskatchewan s trade surplus of $0.9 billion, to $1.7 billion, and an increase in final consumption of $0.5 billion (1.1 per cent). The real increase in Saskatchewan s trade surplus of $0.9 billion and the nominal decline in Saskatchewan s trade surplus of $2.6 billion indicates that while the quantity of exports increased the price of those exports declined. Household Accounts Primary household income declined by 1.5 per cent ($0.7 billion) in Compensation of employees (on a Gross National Product basis) declined 1.2 per cent ($0.4 billion), net mixed income declined by 1.1 per cent ($0.1 billion), and net property income of households declined by 4.5 per cent ($0.2 billion). After subtracting direct taxes, contributions to social insurance plans, and pension plan contributions, household disposable income declined by 0.8 per cent ($0.3 billion) in January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 2

6 Basic Concepts of the Economic Accounts Economic Accounting Standards Economic accounts are a set of statistical statements that provide aggregate perspectives and estimates of productive economic activity. They translate statistics and information related to economic activity such as income, expenditure and production into a consistent framework based on internationally accepted economic concepts and principles. The international standard for economic accounting is the System of National Accounts (SNA). It was developed by the United Nations in 1947 and has gone through periodic revisions to accommodate changes in the world s economic environment and statistical methods. The current version is the System of National Accounts 2008 (SNA2008). It is developed, produced and released jointly by the United Nations, the European Commission, the Organization for Economic Co-operation and Development, the International Monetary Fund and the World Bank Group. The 2008 SNA is an update of the 1993 SNA. Canadian System of National Accounts The Canadian System of National Accounts (CSNA) reflects the international standards embodied in the SNA and is developed, maintained and disseminated by Statistics Canada. It undergoes regular revisions to incorporate new information as well as periodic changes in international standards. Statistics Canada started releasing revisions to the CSNA in October 2012 (CSNA2012) that incorporated changes resulting from the adoption of the SNA2008 framework. The comprehensive revision of provincial economic accounts released in late 2015 is a continuation of this process. Saskatchewan Provincial Economic Accounts Like the SNA and CSNA, the Saskatchewan Provincial Economic Accounts (SPEA) is a set of statistical statements that provide aggregated perspectives of productive economic activity that reflect international standards, but with a focus on Saskatchewan. The statements are based on a subset of the CSNA produced by Statistics Canada and provide measures of Gross Domestic Product (GDP), its principal components, and related economic information. Gross Domestic Product Gross Domestic Product is the most common measure of aggregate productive economic activity. It is the total amount of productive economic activity occurring within a region during a given period of time and is expressed in currency units. At a national level in Canada, it is measured on monthly and annual bases. For Canadian provinces, it is currently measured on an annual, calendar-year basis and is expressed in terms of Canadian dollars. January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 3

7 GDP Perspectives The principal CSNA accounts reflected in the Saskatchewan PEA are the Input-Output (IO) accounts and the Income and Expenditure Accounts (IEA). Collectively, these accounts provide three perspectives or approaches to calculating GDP. The Income Account or income approach to calculating GDP is the sum of incomes generated in the domestic production process. The Expenditure Account or expenditure approach to calculating GDP is the sum of the domestic expenditures on final goods and services. The Output (Value Added by Industry) Account is the sum of the value added by each industry in the domestic production process. While each of these approaches offers a different perspective on GDP, they are conceptually equal in total value THREE PERSPECTIVES OF SASKATCHEWAN GDP INCOME, EXPENDITURE, OUTPUT SASKATCHEWAN 2014 NOMINAL GDP $82.9 Billion $82.9 Billion $82.9 Billion Net Taxes (P&P) 7.2 Fixed Capital Consumption 16.5 Net Mixed Income 6.8 Net Operating Surplus of Corporations 20.5 Employee Compensation 31.9 Final Domestic Demand: $77.0 Billion Net Exports + Inv. 5.9 Government Final Consumption 13.8 Government GFCF: 2.4 Private Gross Fixed Capital Formation 24.8 Household Final Consumption 36.0 Net Product Taxes*: 4.4 Other 16.9 Agriculture 4.4 Manufacturing 4.7 Trade 7.4 Construction 7.7 HES 7.9 FIRE 9.8 Mining, Oil and Gas 19.7 Income Expenditure Output For illustrative clarity, some account components have been combined. * Net product taxes have been added to output-based GDP at basic prices to show equality across accounts. GDP at Basic Prices: $78.5 Billion January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 4

8 Nominal and Real GDP GDP can also be calculated in nominal (current dollar) or real (chained dollar) terms. In concept, nominal GDP is a measure of value and real GDP is a measure of volume. The difference between the two is in the price component of the GDP calculation. Nominal GDP is the dollar value of economic activity in a given year as measured in that year. As such, it captures the levels of both prices and quantities of goods and services in a given year. Nominal GDP is a useful metric for relative comparisons of value at a point in time or changes in the value of component shares of GDP over time. Real GDP is expressed in terms of dollars, but the effects of changes in prices over time are removed. As such, real GDP is a statistical aggregate intended to reveal the volume or quantity of economic activity. Real GDP is a useful metric for changes in the volume or quantity of economic activity over time. Two aspects of real GDP are noteworthy. First, the components of real GDP are not additive: the sum of real GDP components does not equal total real GDP. This is due to the chain Fisher method used to calculate real GDP. Second, there is no real GDP calculation for the income account. This is because the components of income-based GDP cannot be separated into price and quantity terms. January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 5

9 SASKATCHEWAN PROVINCIAL ECONOMIC ACCOUNTS TABLES January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 6

10 Table 1.1: Gross Domestic Product at Market Prices Income Account - Current (Nominal) Dollars Compensation of Employees 5,803 6,346 6,959 7,428 7,781 8,059 8,326 8,630 8,822 9,340 9,805 10, Wages and Salaries 5,388 5,900 6,441 6,836 7,167 7,410 7,621 7,943 8,130 8,552 8,900 8, Employers' Social Contributions , Gross Operating Surplus 3,832 3,636 4,615 5,726 5,959 5,280 5,975 5,621 5,396 5,981 5,689 5, Net Operating Surplus: Corporations 1,869 1,464 2,375 3,395 3,487 2,738 3,363 2,891 2,530 2,998 2,703 2, Consumption of Fixed Capital: Corporations 1,482 1,649 1,696 1,768 1,870 1,930 1,976 2,067 2,159 2,233 2,244 2, Consumption of Fixed Capital: General Governments and Non-Profit Institutions Serving Households Gross Mixed Income 3,463 3,705 3,383 3,392 3,937 4,517 3,571 3,999 4,086 4,351 4,230 4, Net Mixed Income 2,538 2,686 2,314 2,270 2,813 3,379 2,420 2,828 2,895 3,155 3,028 2, Consumption of Fixed Capital: Unincorporated Businesses 925 1,019 1,069 1,122 1,125 1,138 1,151 1,170 1,191 1,196 1,202 1, Taxes Less Subsidies on Production Taxes Less Subsidies on Products and Imports 1,607 1, ,084 1,013 1,276 1, Statistical Discrepancy GROSS DOMESTIC PRODUCT 15,099 15,274 16,226 17,321 18,191 17,955 18,501 19,120 20,123 21,625 21,776 21, January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 7

11 Table 1.1: Gross Domestic Product at Market Prices (continued) Income Account - Current (Nominal) Dollars Compensation of Employees 10,129 10,493 10,919 11,296 12,102 12,604 12,960 13,455 14,043 14,670 15,408 16, Wages and Salaries 9,005 9,304 9,643 9,958 10,630 11,132 11,461 11,900 12,393 12,921 13,531 14, Employers' Social Contributions 1,124 1,189 1,276 1,338 1,472 1,472 1,499 1,555 1,650 1,749 1,877 2, Gross Operating Surplus 5,803 6,833 7,704 8,889 8,778 8,647 9,338 11,967 10,962 11,896 13,257 15, Net Operating Surplus: Corporations 2,658 3,546 4,308 5,319 4,924 4,390 4,846 7,199 5,993 6,773 8,170 10, Consumption of Fixed Capital: Corporations 2,406 2,524 2,631 2,799 3,052 3,438 3,643 3,867 4,016 4,119 4,066 4, Consumption of Fixed Capital: General Governments and Non-Profit Institutions Serving Households ,004 1,021 1, Gross Mixed Income 4,222 4,339 4,649 5,218 4,404 4,710 4,907 5,020 4,936 4,897 5,069 5, Net Mixed Income 2,974 3,038 3,299 3,810 2,959 3,198 3,382 3,486 3,348 3,314 3,495 3, Consumption of Fixed Capital: Unincorporated Businesses 1,249 1,301 1,351 1,408 1,445 1,513 1,526 1,535 1,589 1,583 1,573 1, Taxes Less Subsidies on Production 1,047 1,236 1,247 1,466 1,526 1,546 1,633 1,583 1,569 1,406 1,615 1, Taxes Less Subsidies on Products and Imports 1,823 1,974 2,205 2,383 2,443 2,353 2,225 2,220 2,239 2,237 2,246 2, Statistical Discrepancy GROSS DOMESTIC PRODUCT 23,089 24,665 26,580 29,100 29,172 29,852 31,116 34,278 33,697 35,052 37,516 41, January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 8

12 Table 1.1: Gross Domestic Product at Market Prices (continued) Income Account - Current (Nominal) Dollars Compensation of Employees 17,170 18,556 20,356 22,273 23,457 24,655 27,037 29,080 30,595 31,883 32,252 31, Wages and Salaries 15,140 16,432 17,835 19,621 20,613 21,676 23,785 25,513 26,682 27,783 28,080 27, Employers' Social Contributions 2,030 2,124 2,521 2,652 2,844 2,979 3,252 3,567 3,913 4,100 4,172 4, Gross Operating Surplus 17,852 17,755 20,641 31,431 23,200 25,585 33,513 33,636 35,470 34,577 28,542 25, Net Operating Surplus: Corporations 12,395 11,821 14,036 23,917 15,000 16,719 23,644 22,386 22,889 20,456 13,192 9, Consumption of Fixed Capital: Corporations 4,373 4,766 5,332 6,108 6,727 7,319 8,194 9,476 10,733 12,198 13,326 13, Consumption of Fixed Capital: General Governments and Non-Profit Institutions Serving Households 1,084 1,168 1,273 1,406 1,473 1,547 1,675 1,774 1,848 1,923 2,024 2, Gross Mixed Income 5,194 5,004 6,009 8,012 7,555 7,742 8,491 8,736 9,921 9,136 10,498 10, Net Mixed Income 3,592 3,378 4,260 6,090 5,502 5,656 6,364 6,562 7,582 6,759 7,990 7, Consumption of Fixed Capital: Unincorporated Businesses 1,603 1,626 1,749 1,922 2,053 2,086 2,127 2,175 2,339 2,377 2,508 2, Taxes Less Subsidies on Production 2,202 2,343 2,255 2,464 2,398 1,857 2,130 2,380 2,957 2,784 2,713 2, Taxes Less Subsidies on Products and Imports 2,431 2,548 3,127 3,413 3,483 3,451 3,572 4,046 4,270 4,400 4,423 4, Statistical Discrepancy GROSS DOMESTIC PRODUCT 44,880 46,171 52,382 67,620 60,083 63,370 74,820 77,957 83,158 82,856 78,377 75, January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 9

13 Table 1.2: Compensation of Employees by Industry Income Account - Current (Nominal) Dollars Wages and Salaries 5,388 5,900 6,441 6,836 7,167 7,410 7,621 7,943 8,130 8,552 8,900 8, Agriculture, Forestry, Fishing and Hunting Mining and Oil and Gas Extraction Manufacturing Construction Utilities Trade ,047 1,124 1,219 1,265 1,240 1,250 1,304 1, Transportation and Storage Information and Cultural Services Finance, Real Estate and Company Management Professional and Personal Services Educational Services Health Care and Social Assistance ,047 1,103 1, Federal Government Public Administration Provincial Public Administration Local Public Administration Employers' Social Contributions , COMPENSATION OF EMPLOYEES 5,803 6,345 6,959 7,428 7,781 8,059 8,326 8,630 8,822 9,340 9,805 10, January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 10

14 Table 1.2: Compensation of Employees by Industry (continued) Income Account - Current (Nominal) Dollars Wages and Salaries 9,005 9,304 9,643 9,958 10,630 11,132 11,461 11,900 12,393 12,921 13,531 14, Agriculture, Forestry, Fishing and Hunting Mining and Oil and Gas Extraction Manufacturing ,059 1,082 1,097 1,126 1, Construction Utilities Trade 1,307 1,316 1,421 1,463 1,416 1,461 1,484 1,525 1,604 1,696 1,770 1, Transportation and Storage Information and Cultural Services Finance, Real Estate and Company Management ,004 1,038 1,064 1, Professional and Personal Services 959 1,017 1,044 1,190 1,548 1,640 1,662 1,658 1,752 1,819 1,890 2, Educational Services 985 1,008 1,048 1,070 1,098 1,152 1,193 1,249 1,309 1,381 1,453 1, Health Care and Social Assistance 1,131 1,140 1,151 1,164 1,089 1,184 1,274 1,355 1,424 1,560 1,672 1, Federal Government Public Administration Provincial Public Administration Local Public Administration Employers' Social Contributions 1,124 1,189 1,277 1,338 1,472 1,472 1,499 1,555 1,650 1,749 1,877 2, COMPENSATION OF EMPLOYEES 10,129 10,493 10,919 11,297 12,103 12,604 12,961 13,455 14,043 14,670 15,408 16, January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 11

15 Table 1.2: Compensation of Employees by Industry (continued) Income Account - Current (Nominal) Dollars Wages and Salaries 15,140 16,432 17,835 19,621 20,613 21,676 23,785 25,513 26,682 27,767 28,298 28, Agriculture, Forestry, Fishing and Hunting Mining and Oil and Gas Extraction 956 1,120 1,212 1,478 1,500 1,890 2,152 2,487 2,592 2,675 2,676 2, Manufacturing 1,301 1,318 1,386 1,419 1,453 1,410 1,575 1,661 1,692 1,744 1,653 1, Construction 793 1,036 1,250 1,599 1,777 1,807 2,264 2,700 3,030 3,251 3,188 3, Utilities Trade 1,958 2,104 2,276 2,612 2,679 2,817 2,943 3,193 3,423 3,641 3,765 3, Transportation and Storage 925 1,001 1,096 1,093 1,198 1,302 1,452 1,557 1,485 1,500 1,538 1, Information and Cultural Services Finance, Real Estate and Company Management 1,198 1,278 1,398 1,577 1,507 1,574 1,640 1,661 1,760 1,807 1,858 1, Professional and Personal Services 2,124 2,315 2,578 2,784 2,967 3,112 3,371 3,649 3,828 3,929 4,064 4, Educational Services 1,573 1,626 1,711 1,810 1,910 1,980 2,083 2,212 2,275 2,322 2,430 2, Health Care and Social Assistance 1,855 2,044 2,129 2,302 2,501 2,625 2,963 2,936 2,999 3,155 3,293 3, Federal Government Public Administration Provincial Public Administration Local Public Administration Employers' Social Contributions 2,030 2,124 2,521 2,652 2,844 2,979 3,252 3,567 3,913 4,036 4,144 4, COMPENSATION OF EMPLOYEES 17,170 18,556 20,356 22,273 23,456 24,655 27,037 29,079 30,595 31,803 32,442 32, January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 12

16 Table 1.3 Household Current Account Income Account - Current (Nominal) Dollars Compensation of Employees 5,867 6,447 6,946 7,431 7,544 8,114 8,268 8,541 8,802 9,302 9,648 9, Plus: Net Mixed Income 2,538 2,686 2,314 2,270 2,813 3,379 2,420 2,828 2,895 3,155 3,028 2, Non-Farm Farm 1,577 1, ,376 1, , ,193 1, Rental Income of Households ,011 1,102 1,157 1,139 1,188 Plus: Net Property Income 771 1,102 1,020 1,069 1,185 1,226 1,216 1,428 1,638 2,111 2,067 1, Property Income Received 1,926 2,289 2,124 2,258 2,397 2,517 2,571 2,821 3,191 3,593 3,426 3,032 Less: Property Income Paid 1,155 1,187 1,104 1,189 1,212 1,291 1,355 1,393 1,553 1,482 1,359 1,184 Equals: Primary Household Income 9,176 10,235 10,280 10,770 11,542 12,719 11,904 12,797 13,335 14,568 14,743 14, Primary Household Income 9,176 10,235 10,280 10,770 11,542 12,719 11,904 12,797 13,335 14,568 14,743 14, Plus: Current Transfers Received 1,206 1,483 1,740 2,045 2,238 2,386 2,545 2,697 2,831 2,965 3,164 3, From Non-Profit Institutions Serving Households From Corporations From General Governments 1,000 1,259 1,479 1,788 1,917 2,018 2,120 2,214 2,262 2,391 2,564 2,755 Employment Insurance Benefits Social Security Benefits Other Benefits ,009 1,255 1,336 1,380 1,397 1,420 1,399 1,495 1,546 1,658 From Non-Residents January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 13

17 Table 1.3 Current Account of Households (continued) Income Account - Current (Nominal) Dollars Less: Current Transfers Paid 2,442 2,735 3,014 3,171 3,317 3,611 3,851 4,304 4,451 5,095 5,344 5, To Non-Profit Institutions Serving Households To Corporations ,011 1,089 1,295 1,323 1,302 To General Governments 1,707 1,891 2,126 2,196 2,324 2,595 2,773 3,126 3,190 3,622 3,831 3,872 Personal Income Tax 1,348 1,495 1,645 1,587 1,675 1,915 2,046 2,202 2,253 2,564 2,627 2,655 Other Current Transfers ,058 1,204 1,217 Of Which: Contributions to Social Insurance Plans To Non-Residents Equals: Household Disposable Income 7,940 8,983 9,006 9,644 10,463 11,494 10,598 11,190 11,715 12,438 12,563 12, Household Disposable Income 7,940 8,983 9,006 9,644 10,463 11,494 10,598 11,190 11,715 12,438 12,563 12, Less: Household Final Consumption Expenditure 6,956 7,520 8,324 8,951 9,498 10,054 10,692 11,182 11,687 12,169 12,379 12, Plus: Change in Pension Entirlements Equals: Household Net Saving 1,446 2,012 1,230 1,324 1,542 1, ,082 1, Household Saving Rate (percent) January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 14

18 Table 1.3 Current Account of Households (continued) Income Account - Current (Nominal) Dollars Compensation of Employees 9,989 10,390 10,826 11,198 12,007 12,459 12,807 13,394 13,988 14,641 15,391 16, Plus: Net Mixed Income 2,974 3,038 3,299 3,810 2,959 3,198 3,382 3,486 3,348 3,314 3,495 3, Non-Farm ,055 1,076 1,074 1,124 1,148 1,102 1,120 1,151 Farm ,001 1, ,012 Rental Income of Households 1,234 1,294 1,339 1,390 1,403 1,469 1,456 1,533 1,602 1,622 1,681 1,692 Plus: Net Property Income 1,862 1,833 1,973 1,981 2,011 1,903 2,124 2,103 2,071 2,036 2,038 2, Property Income Received 2,905 2,866 3,127 3,072 2,974 3,008 3,194 3,317 3,241 3,031 3,057 3,159 Less: Property Income Paid 1,043 1,033 1,154 1, ,105 1,070 1,214 1, ,019 1,014 Equals: Primary Household Income 14,825 15,261 16,098 16,989 16,977 17,560 18,313 18,983 19,407 19,991 20,924 22, Primary Household Income 14,825 15,261 16,098 16,989 16,977 17,560 18,313 18,983 19,407 19,991 20,924 22, Plus: Current Transfers Received 3,745 3,882 3,916 4,009 4,152 4,321 4,434 4,527 4,848 4,889 5,049 5, From Non-Profit Institutions Serving Households From Corporations ,050 From General Governments 3,074 3,140 3,143 3,145 3,154 3,255 3,421 3,603 3,748 3,851 3,966 4,054 Employment Insurance Benefits Social Security Benefits ,013 1,071 1,101 1,150 Other Benefits 1,940 2,008 2,021 2,037 2,057 2,098 2,225 2,400 2,482 2,489 2,562 2,600 From Non-Residents January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 15

19 Table 1.3 Current Account of Households (continued) Income Account - Current (Nominal) Dollars Less: Current Transfers Paid 5,321 5,676 6,020 6,399 6,878 7,241 7,207 7,527 7,573 7,679 7,876 8, To Non-Profit Institutions Serving Households To Corporations 1,382 1,463 1,528 1,609 1,738 1,797 1,802 1,860 1,789 1,706 1,809 1,971 To General Governments 3,738 4,001 4,270 4,557 4,873 5,168 5,117 5,382 5,484 5,646 5,743 5,949 Personal Income Tax 2,516 2,667 2,866 3,134 3,335 3,605 3,444 3,519 3,481 3,503 3,506 3,663 Other Current Transfers 1,222 1,334 1,404 1,423 1,538 1,563 1,673 1,863 2,003 2,143 2,237 2,286 Of Which: Contributions to Social Insurance Plans 943 1,012 1,057 1,082 1,150 1,151 1,180 1,260 1,374 1,495 1,578 1,601 To Non-Residents Equals: Household Disposable Income 13,249 13,467 13,994 14,599 14,251 14,640 15,540 15,983 16,682 17,201 18,097 19, Household Disposable Income 13,249 13,467 13,994 14,599 14,251 14,640 15,540 15,983 16,682 17,201 18,097 19, Less: Household Final Consumption Expenditure 13,122 13,762 14,294 14,906 15,700 16,092 16,576 17,439 18,104 19,059 19,891 20, Plus: Change in Pension Entirlements , Equals: Household Net Saving , Household Saving Rate (percent) January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 16

20 Table 1.3 Current Account of Households (continued) Income Account - Current (Nominal) Dollars Compensation of Employees 17,277 18,903 20,882 22,820 23,586 24,581 26,758 28,584 30,170 31,331 31,901 31, Plus: Net Mixed Income 3,592 3,378 4,260 6,090 5,502 5,656 6,364 6,562 7,582 6,759 7,990 7, Non-Farm 1,242 1,375 1,597 1,757 1,739 1,873 2,010 2,052 2,006 2,132 2,080 2,010 Farm ,097 1, ,368 1,290 2, ,913 1,818 Rental Income of Households 1,683 1,757 1,991 2,236 2,550 2,850 2,986 3,219 3,540 3,767 3,997 4,071 Plus: Net Property Income 2,323 2,518 2,744 2,995 2,948 3,187 3,464 3,833 4,030 4,342 4,713 4, Property Income Received 3,407 3,785 4,240 4,623 4,405 4,613 4,929 5,376 5,619 5,968 6,342 6,156 Less: Property Income Paid 1,084 1,267 1,496 1,628 1,457 1,426 1,465 1,543 1,589 1,626 1,629 1,653 Equals: Primary Household Income 23,192 24,799 27,886 31,905 32,036 33,424 36,586 38,979 41,782 42,432 44,604 43, Primary Household Income 23,192 24,799 27,886 31,905 32,036 33,424 36,586 38,979 41,782 42,432 44,604 43, Plus: Current Transfers Received 5,279 5,545 6,601 7,050 7,209 7,452 7,803 8,322 8,839 9,007 9,771 10, From Non-Profit Institutions Serving Households From Corporations 1,032 1,141 1,708 1,668 1,855 1,979 2,031 2,342 2,609 2,740 3,026 3,310 From General Governments 4,104 4,253 4,733 5,211 5,182 5,290 5,583 5,781 6,028 6,057 6,528 6,813 Employment Insurance Benefits Social Security Benefits 1,171 1,193 1,195 1,261 1,332 1,313 1,344 1,457 1,589 1,562 1,596 1,681 Other Benefits 2,649 2,782 3,245 3,647 3,442 3,566 3,857 3,939 4,053 4,075 4,433 4,522 From Non-Residents January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 17

21 Table 1.3 Current Account of Households (continued) Income Account - Current (Nominal) Dollars Less: Current Transfers Paid 8,829 9,350 11,038 11,604 11,871 11,861 13,061 14,265 15,097 15,614 16,502 16, To Non-Profit Institutions Serving Households To Corporations 2,117 2,198 2,927 2,969 2,980 3,049 3,404 3,768 3,884 4,099 4,419 4,631 To General Governments 6,328 6,740 7,640 8,127 8,366 8,249 9,063 9,867 10,576 10,873 11,428 11,407 Personal Income Tax 3,948 4,286 4,959 5,308 5,362 5,140 5,754 6,322 6,832 7,007 7,219 7,279 Other Current Transfers 2,380 2,454 2,681 2,819 3,004 3,109 3,309 3,545 3,744 3,866 4,209 4,128 Of Which: Contributions to Social Insurance Plans 1,674 1,755 1,958 2,037 2,193 2,187 2,352 2,525 2,695 2,770 2,854 2,849 To Non-Residents Equals: Household Disposable Income 19,642 20,994 23,449 27,351 27,374 29,015 31,328 33,036 35,524 35,825 37,873 37, Household Disposable Income 19,642 20,994 23,449 27,351 27,374 29,015 31,328 33,036 35,524 35,825 37,873 37, Less: Household Final Consumption Expenditure 21,509 22,648 24,551 26,535 27,343 28,849 30,323 31,911 33,719 35,322 35,857 36, Plus: Change in Pension Entirlements 1,085 1,057 1,219 1,301 1,125 1,070 1,373 1,426 1,275 1,359 1,393 1, Equals: Household Net Saving ,117 1,156 1,236 2,378 2,551 3,080 1,862 3,409 2, Household Saving Rate (percent) January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 18

22 Table 1.4: Household Property Income Income Account - Current (Nominal) Dollars Property Income Received Total Interest 1,641 1,943 1,816 1,973 2,104 2,235 2,258 2,547 2,925 3,365 3,206 2, Interest - Deposits 886 1, ,015 1,293 1,510 1,340 1, Interest - Other Bonds Mortgages Treasury Bills Life Insurance Pension Plans Unfunded Pension Liability Implicit Income - Deposits Implicit Income - Insurance Dividends Miscellaneous Investment Income Foreign Investment Income January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 19

23 Table 1.4: Property Income of Households (continued) Income Account - Current (Nominal) Dollars Property Income Paid 1,155 1,187 1,104 1,189 1,212 1,291 1,355 1,393 1,553 1,482 1,359 1, Interest - Consumer Credit Interest - Mortgages Interest - Unincorporated Businesses Net Property Income 771 1,102 1,020 1,069 1,185 1,226 1,216 1,428 1,638 2,111 2,067 1, January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 20

24 Table 1.4: Property Income of Households (continued) Income Account - Current (Nominal) Dollars Property Income Received Total Interest 2,668 2,599 2,843 2,736 2,589 2,625 2,690 2,846 2,710 2,458 2,395 2, Interest - Deposits Interest - Other Bonds Mortgages Treasury Bills Life Insurance Pension Plans Unfunded Pension Liability Implicit Income - Deposits Implicit Income - Insurance Dividends Miscellaneous Investment Income Foreign Investment Income January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 21

25 Table 1.4: Property Income of Households (continued) Income Account - Current (Nominal) Dollars Property Income Paid 1,043 1,033 1,154 1, ,105 1,070 1,214 1, ,019 1, Interest - Consumer Credit Interest - Mortgages Interest - Unincorporated Businesses Net Property Income 1,862 1,833 1,973 1,981 2,011 1,903 2,124 2,103 2,071 2,036 2,038 2, January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 22

26 Table 1.4: Property Income of Households (continued) Income Account - Current (Nominal) Dollars Property Income Received Total Interest 2,510 2,644 2,918 2,925 2,689 2,679 2,734 2,821 2,660 2,762 2,910 2, Interest - Deposits Interest - Other Bonds Mortgages Treasury Bills Life Insurance Pension Plans ,100 1, ,026 1,084 1,059 1,126 1,256 1, Unfunded Pension Liability Implicit Income - Deposits Implicit Income - Insurance Dividends ,213 1,330 1,522 1,764 2,120 2,472 2,658 2,997 2, Miscellaneous Investment Income Foreign Investment Income January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 23

27 Table 1.4: Property Income of Households (continued) Income Account - Current (Nominal) Dollars Property Income Paid 1,084 1,267 1,496 1,628 1,457 1,426 1,465 1,543 1,589 1,626 1,629 1, Interest - Consumer Credit Interest - Mortgages Interest - Unincorporated Businesses Net Property Income 2,323 2,518 2,744 2,995 2,948 3,187 3,464 3,833 4,030 4,342 4,713 4, January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 24

28 Table 2.1: Gross Domestic Product at Market Prices Expenditure Account - Current (Nominal) Dollars Final Consumption Expenditure 10,105 11,126 12,167 13,047 13,929 14,715 15,445 16,113 16,991 17,970 18,328 18, Household Final Consumption Expenditure 6,956 7,520 8,324 8,951 9,498 10,054 10,692 11,182 11,687 12,169 12,379 12, Non-Profit Institutions Serving Households Final Consumption Expentures General Government Final Consumption Expenditure 3,044 3,495 3,725 3,971 4,295 4,516 4,598 4,762 5,115 5,596 5,734 5, Gross Fixed Capital Formation 4,446 3,901 4,299 4,331 4,693 4,438 4,879 4,883 4,531 4,732 4,753 4, Business Gross Fixed Capital Formation 3,796 3,241 3,598 3,585 3,939 3,594 4,034 4,074 3,620 3,818 3,974 3, Residential Structures ,152 1, Non-Residential Structures, Machinery & Equipment 3,002 2,478 2,644 2,583 2,818 2,531 2,694 2,831 2,571 3,000 3,355 2, Non-Residential Structures 1,362 1,231 1,280 1,207 1,547 1,286 1,326 1,549 1,319 1,708 1,839 1, Machinery & Equipment 1,640 1,247 1,364 1,376 1,271 1,245 1,368 1,282 1,252 1,292 1,516 1, Intellectual Property Products Non-Profit Institutions Serving Households Gross Fixed Capital Formation General Government Gross Fixed Capital Formation Investment in Inventories Non-Farm Farm January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 25

29 Table 2.1: Gross Domestic Product at Market Prices (continued) Expenditure Account - Current (Nominal) Dollars Exports of Goods and Services 8,217 8,512 8,936 10,274 9,646 8,520 9,630 10,202 9,510 10,183 9,797 11, To Other Provinces 3,249 3,506 3,593 4,252 4,503 4,093 4,593 4,755 4,995 4,934 4,626 5, To Other Countries 4,968 5,006 5,343 6,022 5,143 4,427 5,037 5,447 4,515 5,249 5,171 6, LESS: Imports of Goods and Services 8,551 8,071 8,943 9,793 10,577 10,612 11,196 11,306 11,456 11,727 11,424 11, From Other Provinces 6,121 5,944 6,605 6,888 7,548 7,386 7,932 8,110 8,311 8,465 7,873 7, From Other Countries 2,174 1,854 2,032 2,586 2,686 2,814 2,808 2,736 2,657 2,737 3,056 3, Statistical Discrepancy GROSS DOMESTIC PRODUCT 15,099 15,274 16,226 17,321 18,191 17,955 18,501 19,120 20,123 21,625 21,776 21, FINAL DOMESTIC DEMAND 14,551 15,027 16,466 17,378 18,622 19,153 20,324 20,996 21,522 22,702 23,081 22, January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 26

30 Table 2.1: Gross Domestic Product at Market Prices (continued) Expenditure Account - Current (Nominal) Dollars Final Consumption Expenditure 19,083 19,722 20,469 21,178 22,063 22,843 23,586 24,880 25,907 27,318 28,524 29, Household Final Consumption Expenditure 13,122 13,762 14,294 14,906 15,700 16,092 16,576 17,439 18,104 19,059 19,891 20, Non-Profit Institutions Serving Households Final Consumption Expentures General Government Final Consumption Expenditure 5,729 5,722 5,928 6,012 6,066 6,436 6,661 7,083 7,421 7,849 8,213 8, Gross Fixed Capital Formation 4,363 4,956 5,224 5,998 8,062 7,333 7,420 7,500 7,540 7,223 7,641 7, Business Gross Fixed Capital Formation 3,550 4,110 4,531 5,262 7,202 6,419 6,420 6,472 6,290 5,969 6,483 6, Residential Structures ,000 1,106 1,231 1, Non-Residential Structures, Machinery & Equipment 2,768 3,176 3,508 4,031 5,681 4,940 4,918 4,941 4,760 4,403 4,562 4, Non-Residential Structures 1,486 1,844 1,824 2,233 3,046 2,530 2,565 2,851 2,706 2,481 2,503 2, Machinery & Equipment 1,282 1,332 1,684 1,798 2,635 2,410 2,353 2,090 2,054 1,922 2,059 1, Intellectual Property Products Non-Profit Institutions Serving Households Gross Fixed Capital Formation General Government Gross Fixed Capital Formation ,210 1,203 1,116 1, Investment in Inventories , ,149 1,193 Non-Farm Farm January 2018 SASKATCHEWAN BUREAU OF STATISTICS Page 27