$3.3 bil­lion to Canada’s econ­omy in 2016: StatCan

The Niagara Falls Review - - Business -

OT­TAWA — The il­le­gal pro­duc­tion and con­sump­tion of non­med­i­cal cannabis was worth about $3.3 bil­lion in 2016, ac­cord­ing a Statis­tics Canada anal­y­sis of the un­der­ground econ­omy. The agency gen­er­ally hasn’t in­cluded il­le­gal drugs and pros­ti­tu­tion in the un­der­ground econ­omy, but it has been pro­vid­ing more cannabis-re­lated data ahead of Oct. 17, when recre­ational use of pot be­comes le­gal in Canada. The agency es­ti­mated un­der­ground eco­nomic ac­tiv­ity to­talled $51.6 bil­lion or 2.5 per cent of Cana­dian gross do­mes­tic prod­uct in 2016. It said the un­der­ground econ­omy in­creased 3.5 per cent from 2015 to 2016, top­ping the 2.0 per cent growth in to­tal econ­omy. With price changes re­moved, the un­der­ground econ­omy in­creased 1.8 per cent, while the to­tal econ­omy was up 1.4 per cent. Statis­tics Canada noted the un­der­ground econ­omy as a pro­por­tion of GDP has been rel­a­tively sta­ble, reach­ing a high of 2.7 per cent in 1994 and a low of 2.2 per cent in 2000.

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