Island Economy

Prince Edward Island has a vibrant and growing economy. Island businesses continue to deliver the highest quality products and service to the marketplace.

Our economy features a mix of traditional resources - agriculture, fisheries and tourism - that have undergone significant modernization as well as new industry sectors including bioscience and advanced manufacturing. Business acumen and entrepreneurship are at the core of PEI's economic success.

Notable successes for PEI in 2025 include:

• Population increased by 1.6 per cent to a total of 182,657 as of July 1, 2025
• Employment averaged a new all-time high of 93,500
• Total labour income increased 6.4 per cent to $5.7 billion
• Housing starts increased 4.4 per cent for a total of 1,769, the most starts on PEI since 1973
• International exports increased 1.8 per cent to an all-time high of $2.6 billion
• PEI’s Consumer Price Index showed inflation was 1.4 per cent in 2025, down from 1.8 per cent in 2024; along with Newfoundland and Labrador, this was the lowest inflation rate among provinces.

Agriculture

Farm cash receipts for 2025 totaled $835.0 million, a decrease of 0.7 percent over 2024. This compares to an increase of 4.7 percent for Canada as a whole.

Fisheries

The Department of Fisheries, Rural Development, and Tourism estimates that the value of total fish landings in 2025 rose 2.4 percent to $460.8 million, following a 16.2 percent increase in 2024.

Retail Trade

Retail sales on Prince Edward Island in 2025 increased for the sixteenth consecutive year, with a 3.0 percent increase, as compared to a 4.0 percent increase for Canada as whole.

Construction, Investment and Housing

Statistics Canada estimates that total non-residential capital expenditures on Prince Edward Island valued $1.5 billion in 2025, an increase of 15.5 percent over 2024.

Tourism

Tourism had another positive year in 2025, with 1.9 million visitors coming to the Island. This was an increase of 10.3 percent over 2024, which was the previous annual record for visitors.