Finance

Statistics Canada Reports Q3 Cannabis Spending Increase of 1.1% to $5.9 Billion

By November 27, 2018 No Comments

Statistics Canada released the Cannabis Economic Account for the third quarter of 2018 on November 21st and reported that Canadian households increased consumption of cannabis in the third quarter of 2018. The reported Economic Account of Canadian cannabis consumption showed Q3 spending increased by 1.1% to $5.9 billion. The 1.1% increase in household spending on cannabis followed a 1.8% increase to Q2’s totals from this year.

Expenditures on cannabis in Canadian Households have continued to increase at an average rate of 1.5% for, now, six quarters in a row. The amount of cannabis consumption has increased by 73% since the Canadian government legalized the consumption of cannabis for medical purposes in the second quarter of 2001. Medical cannabis products and $88 million in in-home cannabis production for medicinal use accounted for $836 million or 14.2% of the total spent on cannabis in Q3. Non-medical use cannabis consumption fell from 98% of the total cannabis consumed in Q2 of 2014 to this year’s 83.9% in Q3 of 2018.

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