Sales of cannabis products in Canada are up—way up—over last year
According to StatsCan’s figures, cannabis sales can boast the highest year-over-year percentage increase of any of the commodities, retail trade commissions, or miscellaneous services that the agency tracks
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At the end of August, Statistics Canada reported that the country’s economy took a serious decline in the second quarter of 2020. According to StatsCan, Canada’s gross domestic product shrank by 11.5 percent between April and June. That meant a 38.7 percent pace of contraction for the year as a whole, making it the sharpest dip on record since 1961.
There are certainly signs of recovery, however. Today, StatsCan released its Retail Commodity Survey for June. That report states that, after three consecutive year-over-year declines, retail sales rose 4.8 percent in June 2020, to $56.9 billion. Higher sales were reported in 13 of the 19 commodity categories.
Because you’re reading this on a weed-focused website, you’re probably wondering how cannabis sales fared. In June of 2019, Canadians spent $92 million on cannabis products. In June of this year, however, that figure had risen to $201 million. That’s a year-over-year increase of 119.3 percent.
Nothing else comes close to cannabis sales
According to StatsCan’s figures, cannabis sales can boast the highest year-over-year percentage increase of any of the commodities, retail trade commissions, or miscellaneous services that the agency tracks.
Nothing else even comes close, in fact. The next highest? Sales of recreational vehicles, which soared to a new high, up 50.3 percent in June from the previous year. According to StatsCan, new recreational boats (up 51.6 percent) led this increase in sales.
“This category includes boats, canoes, kayaks and personal watercraft, as well as parts and accessories. As demand rose for vacationing and travelling within Canada, sales of new motor homes, travel trailers and truck campers increased 41.8%.”
Is there any connection to cannabis sales there? Perhaps not. On the other hand, it would be nice to think that all those Canadians heading out to the lake or the campground this summer stocked up on Birthday Cake Kush or Lime Green Skunk before hitting the highway.