Canada’s recreational cannabis industry continued to experience steady monthly growth this year, with sales in August rising to 464.2 million Canadian dollars ($339 million), or a 4% increase over July, according to the latest data released by Statistics Canada.
However, the annual trend continues to show a significant deceleration in growth.
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In 2021, from January to August, sales rose 59% over the previous year.
In 2022, sales in the respective months increased 20.5% from 2021 to CA$2.9 billion.
So far this year, recreational cannabis sales have increased approximately 13.7% year-over-year to roughly CA$3.34 billion.
Ontario underpinned national growth.
In August, recreational cannabis sales in Canada’s largest provincial economy rose by CA$12.4 million compared to the previous month – an increase of 7% – to CA$188.5 million.
The second-biggest rise in provincial sales occurred in British Columbia, where the recreational increase was almost CA$3 million in August
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