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Posted on May 04 2024

GDP grows in all provinces of Canada except one -StatCan

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By  Editor
Updated May 04 2024

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Highlights: All Canadian provinces show GDP growth except one-StatCan

  • All provinces in Canada have reported a GDP growth except for Newfoundland and Labrador.
  • The annual real GDP by increased by 1.2% in Canada in 2023.
  • Economic growth shot up by 3.4% in the Canadian province of Nunavut.
  • Ontario alone contributed towards a 1.2% increase in Canada's national GDP.

 

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Economic Growth in Canada

All Canadian provinces reported a growth in the real Gross Domestic Product (GDP), except Newfoundland and Labrador. Nunavut reported an increase of 3.4% in the national economy's growth rate in 2023.

 

Economic activity increased with the rapid growth of the population in Canadian provinces. Service-producing industries across all Canadian provinces also reported high output, which led to overall economic growth in Canada.

 

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Contributors to economic growth in Canada

According to recent reports, Ontario was the largest contributor to Canada's GDP growth. The province alone accounted for almost half of the 1.2% rise in GDP in Canada.

 

The table below lists the Canadian provinces that contributed the most towards the economic growth in Canada:

Canadian Province

% of contribution

Ontario

0.60

British Columbia

0.23

Alberta

0.22

Saskatchewan

0.06

Quebec

0.05

 

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Increase in service-producing industries across provinces.

Rapid growth in service-producing industries in certain Canadian provinces contributed to the overall GDP growth in Canada. Prince Edward Island tops the list of Canadian provinces, reporting an increment of 3% in service-producing industries.

 

The table below shows the Canadian provinces that had a rapid surge in service-producing industries in 2023:

Canadian province

Sectors

% of contribution

Prince Edward Island

Real estate and rental and leasing

4.5%

Public Administration

3.8%

Food services and drinking places

7.7%

Alberta

Food services and drinking places

7.8%

Ontario

Arts and Entertainment

18.6%

Manitoba

Arts and Entertainment

12.3%

Air transportation

34.7%

Quebec

Air transportation

34.2%

British Columbia

Air transportation

31.4%

 

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Industry-wise breakdown of provinces contributing to GDP growth

The table below provides details about the Canadian provinces and the amount of contribution from different industrial sectors:

Industrial Sectors

Provinces

% of contribution

Good-producing industry

Nunavut

5.8%

Saskatchewan

0.9%

New Brunswick

0.7%

Prince Edward Island

0.2%

Construction

Nunavut

68%

Agriculture, forestry, fishing and hunting

Manitoba

0.9%

Ontario

1.7%

Conventional oil and gas Extraction

Alberta

1.6%

 

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