Canada Marijuana Exports Increased 50% in Fiscal Year 2022-23 Compared to Previous Year

Canada exported 50% more marijuana in the most recent fiscal year than it did in the prior fiscal year, according to data released by Health Canada and first reported by MJBizDaily.

In fiscal year 2022-23 Canada shipped CA$160 million ($118 million) worth of marijuana and marijuana products overseas. This is a substantial increase over the CA$107 million sold during the previous fiscal year, and a 310% increase over the $39 million exported in fiscal year 2020-21.

Canada’s federal government fiscal year runs April 1 through March 31. The 2019-20 fiscal year is the first year Health Canada published export data, with $8 million in marijuana exported.

In June licensed marijuana stores in Canada sold CA$426.6 million ($316.7 million) worth of marijuana and marijuana products, a 12% increase over June, 2022. This also marked the fourth straight month that Canada’s marijuana sales exceeded CA$400 million.

According to Health Canada there are around 570 active licenses for marijuana cultivation, and 423 licenses for micro-grows.

Year-to-date marijuana sales for all of Canada now stand at $2.4 billion, a 9% increase over the same period in 2022.

According to a study published earlier this year in the journal Drug and Alcohol Review and published online ahead of print by the US National Library of Medicine, Toronto saw a 9% reduction in traffic crashes immediately following Canada’s legalization of marijuana.

Thank you for reading The Marijuana Herald! You can sign up for our newsletter at the form below, and you can find more news stories by clicking here.