GDP grows in all provinces of Canada except one -StatCan

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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