Cannabis sales hit $1.3B in fiscal 2019

Published on February 17, 2021 by David Wylie

Here’s a testament to just how fast the cannabis industry is growing in Canada.

New figures released today from Statistics Canada show $1.3 billion worth of weed was sold during the country’s first full fiscal year of legalization, a significant bump from the $908 million reported in the 2019 calendar year.

The difference between the two surveys is subtle—but the nearly $400-million difference between them is not.

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We reached out to the federal statistics agency about the difference and they clarified that the new total number is from the annual retail trade survey, which uses fiscal-year figures.

In contrast, the earlier cannabis sales total came from the monthly retail trade survey, which reports according to the calendar year.

Normally, the difference between the two is not as pronounced, as month-to-month sales are generally comparable. However, with legal cannabis sales increasing so steadily throughout 2019 and into 2020, the two surveys captured a big difference.

There were a number of factors that accelerated growth.

“Additional cannabis stores opened in 2019, increasing Canadian’s average proximity to brick-and-mortar cannabis stores,” says Statistics Canada.

“Supply chain development, the roll-out of brick-and-mortar stores, the pricing of products and the legalization of new products (e.g., edibles) in late 2019 all supported higher cannabis sales.”