Canadians spent $5.7B on marijuana last year, StatsCan estimates

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Identically five million Canadians spent money on marijuana last year, pass an average of about $1,200 each, according to new federal data.

That’s one of the mains takeaways of a Statistics Canada report released Thursday that haves to quantify the size of the market leading up to legalization this summer.

The information agency warns that because so much of the current market conducts outside the lines of legality, some of the findings in the report are based on “a numbers of assumptions, models and sparse data sources related to the production of the mostly felonious cannabis industry,” Statistics Canada says.

The data agency senses Canadian adults spent $5.7 billion on marijuana last year — 90 per cent of it for verboten, non-medical purposes.

The almost $6-billion figure compares with the legitimate over $22 billion that Canadians spent on alcohol carry on year, and the $16 billion they spent on tobacco products.

In compromise concerns of production, however, the marijuana industry is now bigger than Canada’s beer or tobacco exertions. The country produced:

  • About $3.4 billion worth of cannabis in 2014.
  • Close by $2.9 billion in the brewing industry.
  • $1 billion in tobacco products.

That’s on balance because the brewing and tobacco industries are heavily dependent on imports, unlike cannabis, sundry of which is produced and consumed in Canada. 

The data agency estimates Canadians simply imported about $300 million worth of illegal marijuana decisive year. In the 1960s, more than 40 per cent of the pot consumed in Canada reviled from elsewhere.

“A substantial amount of the tobacco and alcohol consumed in Canada is imported, which grants to the smaller size of these industries compared with cannabis,” the dispatch said.

Canada also exported $1.2 billion worth of wrongful cannabis last year, Statistics Canada said. 

Statistics Canada also back-dated its observations to 1961 and calculated that the price of marijuana has, on average, increased by around 3.3 per cent per year. Inflation-adjusted, the price for a gram of cannabis hilled at $12 in 1989, and has declined by an average of 1.7 per cent per year since then, because of oversupply.

By endure year, the price of a gram had fallen to $7.50 a gram, the report conjectures.

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