Cannabis is proving to be a big boost to Canada’s economy.
According to the latest data from federal agency Statistics Canada, the legal cannabis industry contributed $8.26 billion to the country’s gross domestic product (GDP) in July of this year. That represents an increase from the $7.02 billion that cannabis provided to Canada’s GDP in October 2018 when the recreational drug was formally legalized throughout the country.
The most recent Statistics Canada figures also show that Canada's legal cannabis industry has grown 185% in the first 10 months since recreational marijuana was legalized. The black market’s cannabis output, meanwhile, has fallen by 21% in that same time period. Cannabis is forecast to contribute even more to Canada’s national economy once edibles and beverages infused with cannabis become legal in the country later this month.
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