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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