GDP grows in all provinces on Canada except one - StatCan

Highlights: GDP grows in all provinces in Canada except one

• For the second consecutive year in 2023, the GDP grew in all provinces
• Ontario became the most significant contributor to Canada’s economic growth
• British Columbia was the second-largest contributor to national economic growth, surpassing Alberta
• Prince Edward Island had the most significant increase in the services of real estate, rental, and leasing.

 

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Details of the Economic growth in Canada in 2023

In the second year of 2023, the real gross GDP increased in Canada except Newfoundland and Labrador. In Yukon, production declined in the North-western territories, and Nunavut was the sole Canadian Jurisdiction where the nation led with a 3.4% increase in 2023. Largest contributors

 

Some provinces in Canada noticed an economic growth in 2023:

Provinces	Rate of Economic growth 2023
Ontario	1.2 percentage points
British Columbia	0.23 percentage points
Alberta	0.22 percentage points
Saskatchewan	+0.06 percentage points
Quebec	0.05 percentage points

 

Newfoundland and Labrador declined by 0.04 percentage points, the most significant national economic output for the third time in six years.

 

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Growth in different service sectors:

There is growth in different services-producing industries except Manitoba, Saskatchewan, and Nunavut in 2023. However, in the other seven provinces, the development of the services sectors was positive, such as:

Sectors	Provinces	Increased by
Services	Prince Edward Island	3.00%
Public administration		3.80%
Real estate and Rental and Leasing		4.50%
Food services and drinking places	Prince Edward Island	7.70%
	Alberta	7.80%
Arts, entertainment and recreation sector	Ontario	18.60%
	Prince Edward Island	13.00%
	Manitoba	12.30%
Air transportation	Manitoba	34.70%
	Quebec	34.20%
	British Columbia	31.40%

 

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Good production increase in different sectors:

Here are the details of good production increase in different sectors:

Provinces	Increased by
Nunavut	5.80%
Saskatchewan	0.90%
New Brunswick	0.70%
Prince Edward Island	0.20%

 

Increase in Construction sectors: 

There was growth in five sectors: Prince Edward Island, New Brunswick, Quebec, Ontario, and Alberta. The most significant contributors to the growth of the construction sectors are Newfoundland, Labrador, and the Northwest Territories. 

 

Nunavut helped increase the on-going construction of the gold mine by +68.0%. 

 

Other sectors that witnessed growth: 

Sectors	Provinces	Increased by
Agriculture, forestry, fishing and hunting sector	Manitoba	0.90%
	Ontario	1.70%
Oil and gas extraction	Alberta	6.70%
Oil sands extraction		1.60%

 

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