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Cannabis Contributes $8.64 Billion to GDP

The cannabis sector contributed $8.64 billion to Canada’s Gross Domestic Product in May. That number might seem like a lot, however, it only accounts for around 0.5% of the total amount. Since January, the numbers have been rising, but they hit a peak in May, having increased 9% in the previous five months. That increase represents around $812 million.

In the grand scheme of things, cannabis earnings may be a drop in the bucket, but this time last year their contribution was 0.39% to the total GDP, and total earnings have risen 10% since then, overall. The cannabis sector has stayed strong even as other industries were fluctuating.

Unsurprisingly, the top contributors to the GDP are the goods and service-producing industries and the business sector, all contributing trillions. Comparatively, cannabis now contributes approximately the same amount as the content and media industry, or the arts and entertainment industry, and it is still an industry that is in its infancy stage.

Tags: Canada’s GDP (1), cannabis industry statistics (1), Cannabis Sales (64), cannabis sector (1)