Gross Domestic Product (GDP) by Industry
Gross Domestic Product (GDP) by Industry, 2021
This annual release of Gross Domestic Product (GDP) by Industry by Statistics Canada provides current measures of Gross Domestic Product by Industry, at the provincial and territorial level.
On May 2, 2022 Statistics Canada released preliminary Provincial Gross Domestic Product (GDP) by Industry data for 2021.
Following significant contractions in 2020 due to the Covid-19 pandemic, many sectors of the Canadian economy began to rebound in 2021. Although all jurisdictions across the country continued to deploy health measures to slow the spread of the coronavirus at various times as
variants emerged, many sectors were able to resume operations at normal or near normal levels. Output of client-facing businesses such as restaurants, hotels, museums, movie theatres, airlines and clothing stores was, for the most part, still well below pre-pandemic levels in every jurisdiction. Real gross domestic product (GDP) rose in every province and territory except Saskatchewan in 2021.
Source: Statistics Canada, The Daily, Infographic 1, May 2, 2022. https://www150.statcan.gc.ca/n1/daily-quotidien/220502/dq220502a-eng.htm
The P.E.I. GDP for all industries in chained 2012 dollars was valued at $6.3 billion in 2021, an increase of 6.6 per cent over 2020. This was the largest increase among provinces and the fastest growth for PEI since 1983. Following PEI were British Columbia (6.2 per cent) and Nova Scotia (5.8 per cent). Yukon led all jurisdictions with 9.1 percent growth, followed by Nunavut at 6.7 per cent.
By this measure the P.E.I. economy grew by 1.7 per cent in 2018, 4.6 per cent in 2019 and contracted by 1.8 per cent in 2020.
Table 1 shows GDP By Industry growth by province and territory since 2017.
|Newfoundland and Labrador||1.3||-2.8||3.4||-5.3||1.2|
|Prince Edward Island||4.5||1.7||4.6||-1.8||6.6|
Prince Edward Island
Real GDP increased 6.6 per cent in 2021, the largest increase among provinces, following a decline of 1.8 per cent in 2020. Good producing industries increased 9.2 per cent, while service producing industries expanded 5.7 per cent. Increases were recorded in 16 of the 20 major industry groups.
Goods production increased 9.2 per cent in 2021. Agriculture, forestry, fishing and hunting saw an increase of 16.3 per cent, construction increased 10.2 per cent, and manufacturing grew by 6.3 per cent.
Agriculture, forestry, fishing and hunting expanded by 16.3 per cent in 2021, following a decline of 4.8 per cent in 2020. This was the strongest gain since 2002. Crop and animal production (13.1 per cent) benefited from favorable weather conditions, which resulted in a strong yield for potatoes. Fishing, hunting and trapping increased 23.8 per cent, as a result of higher prices and increased demand for seafood products.
Construction increased for the sixth consecutive year, rising by 10.2 per cent in 2021. This was largely due to a 14.3 per cent increase in residential construction which made up two-thirds of the overall increase in construction. Non-residential building construction grew by 14.2 per cent, while engineering construction fell by 6.4 per cent.
Manufacturing rebounded from a 3.8 per cent decline in 2020, expanding by 6.3 per cent in 2021. Food manufacturing led the way, rising by 11.5 per cent, with seafood product preparation and packaging increasing 32.0 per cent. Aerospace product and parts manufacturing declined 3.1 per cent as air travel restrictions remained in place since the beginning of the pandemic. Chemical manufacturing decreased by 4.1 per cent, due mostly to a 2.2 per cent decline in pharmaceutical and medicine manufacturing.
The service sector increased by 5.7 per cent in 2021, following a 2.3 per cent decline in 2020. As many restrictions were lifted or eased in 2021, much of service industry rebounded in 2021 with thirteen of the fifteen major service industries recording increases. Only transportation and warehousing (-0.3 per cent) and management of companies and enterprises (-26.4 per cent) declined. Following sharp declines in 2020, accommodation and food services (22.8 per cent), and arts, entertainment and recreation (7.4 per cent), showed signs of recovery as Covid-19 restrictions eased. Other notable increases in the services sector were in retail trade (8.8 per cent), real estate and rental and leasing (4.0 per cent), and public administration (4.5 per cent).
Table 2 shows percentage growth by industry of the provincial economy from 2017 to 2021. Table 3 shows contribution to change by industry from 2017 to 2021.
Table 2, P.E.I. GDP BY INDUSTRY GROWTH
(constant chained 2012 dollars)
|Percentage Growth||Value (millions $)|
|Agriculture, Forestry, Fishing and Hunting||6.8||-0.1||9.8||-4.8||16.3||444.2|
|Crop and Animal Production||3.3||-2.3||10.8||-9.8||13.1||276.9|
|Forestry & Logging||-15.2||10.3||-2.3||-2.4||-4.9||3.9|
|Fishing, Hunting & Trapping||14.0||2.9||8.1||2.9||23.8||132.0|
|Non-Residential Building Construction||46.2||5.5||-0.1||19.0||14.2||135.1|
|Seafood Product Prep and Packaging||2.3||-17.3||4.0||-10.2||32.0||71.7|
|Aerospace product and parts manufacturing||0.3||10.4||11.2||-14.8||-3.1||78.1|
|Transportation & Warehousing||6.2||-2.5||6.8||-5.6||-0.3||187.1|
|Information & Culture||0.1||-9.5||4.3||-1.1||2.3||161.2|
|Finance and Insurance||6.3||-0.2||4.4||2.5||2.0||332.6|
|Real Estate and Rental and Leasing||3.1||3.0||3.9||5.3||4.0||876.0|
|Professional, Scientific and Technical Services||5.5||5.2||6.8||2.0||10.6||215.4|
|Management of Companies and Enterprises||-14.1||-24.9||-33.8||-17.9||-26.4||6.4|
|Administrative and Support, Waste Management and Remediation Services||-4.1||2.0||3.6||-8.6||7.5||126.1|
|Health Care and Social Assistance||1.7||3.0||3.4||-3.7||5.3||592.5|
|Arts, Entertainment and Recreation||0.0||12.3||7.5||-38.1||7.4||43.7|
|Accommodation and Food Services||1.5||2.4||5.5||-31.8||22.8||160.4|
|Other Services (except Public Administration)||5.3||1.5||2.5||-11.1||6.8||123.2|
Note: the sum of the chained values for each component of an aggregate does not equal the chained value of the aggregate.
Table 3, P.E.I. GDP BY INDUSTRY, CONTRIBUTION TO CHANGE
|Contribution to Change (Percentage Points)|
|Agriculture, Forestry, Fishing and Hunting||0.5||0.0||0.6||-0.3||0.9|
|Crop and Animal Production||0.1||-0.1||0.4||-0.4||0.5|
|Forestry & Logging||0.0||0.0||0.0||0.0||0.0|
|Fishing, Hunting & Trapping||0.3||0.1||0.2||0.1||0.4|
|Non-Residential Building Construction||0.5||0.1||0.0||0.3||0.3|
|Seafood Product Prep and Packaging||0.0||-0.2||0.0||-0.1||0.3|
|Aerospace product and parts manufacturing||0.0||0.2||0.2||-0.3||-0.1|
|Transportation & Warehousing||0.2||-0.1||0.2||-0.2||0.0|
|Information & Culture||0.0||-0.3||0.1||0.0||0.1|
|Finance and Insurance||0.3||0.0||0.2||0.1||0.1|
|Real Estate and Rental and Leasing||0.4||0.4||0.5||0.7||0.6|
|Professional, Scientific and Technical Services||0.2||0.2||0.2||0.1||0.4|
|Management of Companies and Enterprises||-0.1||-0.1||-0.1||0.0||0.0|
|Administrative and Support, Waste Management and Remediation Services||-0.1||0.0||0.1||-0.2||0.1|
|Health Care and Social Assistance||0.2||0.3||0.4||-0.4||0.6|
|Arts, Entertainment and Recreation||0.0||0.1||0.1||-0.3||0.0|
|Accommodation and Food Services||0.0||0.1||0.2||-1.0||0.5|
|Other Services (except Public Administration)||0.1||0.0||0.1||-0.2||0.1|
Source: Statistics Canada.
Table 36-10-0402-01 Gross domestic product (GDP) at basic prices, by North American Industry Classification System (NAICS), provinces and territories, annual (dollars)
Table 36-10-0434-03 Gross domestic product (GDP) at basic prices, by industry, annual average
Related downloads for this release:
Annual GDP By Industry Report PDF (157KB)