In the wake of a United Kingdom vote to leave the European Union (EU), Saskatchewan Premier Brad Wall said he doesn’t expect the UK exit from the 28-state union of European countries to have much of an impact on Saskatchewan’s economy. There has been significant speculation about the financial and trade consequences of the UK leaving the EU.
“While (the) vote is obviously significant, we do not expect that much of an effect on Saskatchewan exports,” said Wall in a media release from the Government of Saskatchewan. “We are well-positioned to stay strong through the near-term Brexit volatility.”
Wall said in the release that Saskatchewan’s top export markets are the United States, Asian-Pacific markets, including China, India, Japan, Indonesia and Bangladesh. In 2015, those countries made up over 77 per cent of Saskatchewan’s $32.6 billion in exports.
“The European Union, while important, accounted for slightly less than four per cent of Saskatchewan’s exports in 2015, and the UK specifically made up just 0.3 per cent,” Wall said. “Our ties to both the EU and the United Kingdom will continue.”