Colorado Clears More Than US$2 Billion in Cannabis Sales in 2020

Article by Sam Riches, Growth Op

Cannabis sales in Colorado set an all-time high in 2020, with consumers spending US$2.2 billion across the state, reports The Denver Post.

Citing figures from the state Department of Revenue, Colorado will reportedly collect US$387.4 million in tax revenue from the sales.

Sales in 2020 were 25 per cent higher than in 2019, with analysts citing the pandemic as one of the factors driving the growth.

“It’s good that in this really challenging year at least some of our industries are doing well,” Governor Jared Polis told The Denver Post. “It also shows that Colorado’s marijuana industry continues to lead the nation in excellence and innovation with additional measures like delivery.”

Cannabis sales in Canada also reached record highs in 2020. Final figures for the year are not yet available, but sales nationwide have eclipsed the 2019 figures every month in 2020.

In November 2020, the latest month available from Statistics Canada, retail cannabis sales in Canada reached more than $260 million, a 93 per cent increase from Nov. 2019, when sales totalled $135 million.

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