The cannabis sector contributed $17 billion to Canada’s gross domestic product (GDP) for the year ending July 2021. In the space of three years, adult-use and medical cannabis’ contribution to Canada’s GDP has grown to rival the dairy industry’s $20 billion GDP.
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The growth shows no signs of slowing. Sales of legal cannabis products by licensed dispensaries will eclipse $4 billion on an annualized basis in 2021 and is projected to surpass $5 billion in 2022 . Illicit cannabis sales, brazenly marketed and distributed to Canadians, are estimated to be at least as big as the legal market (another $4 billion or so per year).
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