Gross Domestic Product (GDP) by Industry
Gross Domestic Product (GDP) by Industry, 2020
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 3, 2021 Statistics Canada released preliminary Provincial Gross Domestic Product (GDP) by Industry data for 2020.
The World Health Organization declared the Covid-19 pandemic in early March 2020. Over the course of the year, the pandemic affected every jurisdiction and sector of the Canadian economy as restrictions were put in place to limit the spread of the virus. Travel restrictions, closures of schools and non-essential businesses, and the closure of Canada's international borders resulted in a decline in GDP in every jurisdiction except Yukon and Nunavut.
The impact varied across the country, however for most provinces, the contraction was the worst seen in 40 years. Nationally GDP fell by 5.3 per cent as compared to 2019. Ontario contributed most to the national decline (-1.95 percentage points), mostly because of the size of its economy. Alberta accounted for -1.25 percentage points, as low oil prices on the world markets, combined with the impact of the pandemic decreased activity in the oil and gas sector and related industries. Quebec accounted for 1.05 percentage points of the total decrease at the national level, and British Columbia represented 0.51 percentage points of the decline.
The P.E.I. GDP for all industries in chained 2012 dollars was valued at $5,896 million in 2020, a decrease of 3.0 per cent over 2019. Although this was the smallest decline among provinces and the first decline in GDP since 2007, this was also the largest contraction for PEI since the current GDP data series began in 1981. Following PEI were Nova Scotia (-3.2 per cent) and New Brunswick (-3.7 per cent). The only jurisdictions to see increases were Nunavut (3.5 percent) and Yukon (1.1 per cent).
Prior to the pandemic, by this measure the P.E.I. economy grew by 5.1 per cent in 2019, 2.6 per cent in 2018 and 4.5 per cent in 2017. The last time PEI saw sustained economic growth at comparable levels was the late 1990’s.
Diagram 1 shows GDP by Industry growth for Canada and the Provinces for 2020.
Table 1 shows GDP By Industry growth by province and territory since 2016.
|Newfoundland and Labrador||1.5||1.3||-3.5||4.0||-5.3|
|Prince Edward Island||2.1||4.5||2.6||5.1||-3.0|
Prince Edward Island
Real GDP contracted 3.0 per cent in 2020, the smallest decline among provinces, following 5.1 per cent growth in 2019. Good producing industries decreased 3.0 per cent, matching the service industry decline, which was also 3.0 per cent. Declines were recorded in 12 of the 20 major industry groups.
Goods production fell 3.0 per cent in 2020. Construction saw an increase of 4.8 per cent and utilities increased 0.8 per cent. Agriculture, forestry, fishing and hunting decreased by 8.7 per cent.
Construction increased for the second consecutive year, rising by 4.8 per cent in 2020. This was largely due to a 6.2 per cent increase in residential construction, the sixth consecutive year of growth. Engineering construction increased by 9.3 per cent, while non-residential building construction grew by 2.6 per cent.
Agriculture, forestry, fishing and hunting contracted by 8.7 per cent in 2020, following five years of growth. Both fishing, hunting and trapping (-8.3 per cent) and crop and animal production (-9.2 per cent) were affected by lower demand from food-serving establishments. Crop production (-7.7 per cent) was also impacted by dry growing conditions over the summer months.
Manufacturing decreased for the first time since 2010, falling by 4.4 per cent. Food manufacturing declined by 4.6 per cent, with seafood product preparation and packaging dropping 10.1 per cent. Aerospace product and parts manufacturing declined 11.6 per cent as air travel restrictions remained in place since the beginning of the pandemic. Chemical manufacturing increased by 11.6 per cent, due mostly to a 13.1 per cent increase in pharmaceutical and medicine manufacturing.
The service sector decreased by 3.0 per cent in 2020, following a 3.6 per cent increase in 2019. Much of service industry was severely impacted by the Covid-19 pandemic with nine of the fifteen major service industries recording declines in 2020. Accommodation and food (-31.5 per cent), arts, entertainment and recreation (-37.1 per cent), and transportation and warehousing (-6.7 per cent) were impacted the most, together accounting for more than half of the overall decline in the province. Notable increases in the services sector were in real estate and rental and leasing (3.2 per cent), finance and insurance (2.3 per cent), and wholesale trade (1.1 per cent).
Table 2 shows percentage growth by industry of the provincial economy from 2016 to 2020. Table 3 shows contribution to change by industry from 2016 to 2020.
Table 2, P.E.I. GDP BY INDUSTRY GROWTH
(constant chained 2012 dollars)
|Percentage Growth||Value (millions $)|
|Agriculture, Forestry, Fishing and Hunting||0.8||6.8||0.5||10.6||-8.7||371.2|
|Crop and Animal Production||6.4||3.3||-1.0||10.7||-9.2||249.6|
|Fishing, Hunting & Trapping||-9.6||14.0||3.1||11.0||-8.3||97.8|
|Non-Residential Building Construction||10.3||46.2||8.2||11.5||2.6||116.6|
|Seafood Product Prep and Packaging||9.2||2.3||1.3||8.7||-10.1||69.7|
|Aerospace product and parts manufacturing||6.2||0.3||10.1||9.5||-11.6||82.2|
|Transportation & Warehousing||4.4||6.2||2.6||7.0||-6.7||195.6|
|Information & Culture||1.4||0.1||1.8||4.1||-2.5||174.3|
|Finance and Insurance||2.3||6.3||2.3||4.4||2.3||333.4|
|Real Estate and Rental and Leasing||2.2||3.1||2.7||3.9||3.2||822.9|
|Professional, Scientific and Technical Services||5.8||5.5||4.8||2.5||0.2||183.0|
|Management of Companies and Enterprises||-19.0||-14.1||-14.6||-17.0||-13.9||13.0|
|Administrative and Support, Waste Management and Remediation Services||-15.0||-4.1||2.3||5.1||-7.9||120.4|
|Health Care and Social Assistance||1.7||1.7||2.8||3.7||-4.8||556.6|
|Arts, Entertainment and Recreation||-3.4||0.0||5.0||6.3||-37.1||38.2|
|Accommodation and Food Services||4.3||1.5||3.9||2.2||-31.5||129.0|
|Other Services (except Public Administration)||-0.1||5.3||-0.6||3.1||-12.4||112.0|
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||0.051||0.476||0.042||0.752||-0.639|
|Crop and Animal Production||0.268||0.135||-0.031||0.409||-0.359|
|Fishing, Hunting & Trapping||-0.220||0.347||0.089||0.325||-0.258|
|Non-Residential Building Construction||0.116||0.546||0.134||0.201||0.048|
|Seafood Product Prep and Packaging||0.114||0.029||0.016||0.109||-0.129|
|Aerospace product and parts manufacturing||0.090||0.004||0.162||0.165||-0.211|
|Transportation & Warehousing||0.149||0.219||0.094||0.260||-0.250|
|Information & Culture||0.045||0.003||0.050||0.109||-0.061|
|Finance and Insurance||0.123||0.330||0.122||0.232||0.122|
|Real Estate and Rental and Leasing||0.286||0.392||0.344||0.493||0.400|
|Professional, Scientific and Technical Services||0.171||0.171||0.156||0.083||0.008|
|Management of Companies and Enterprises||-0.112||-0.063||-0.047||-0.042||-0.026|
|Administrative and Support, Waste Management and Remediation Services||-0.377||-0.087||0.046||0.102||-0.160|
|Health Care and Social Assistance||0.184||0.177||0.292||0.387||-0.506|
|Arts, Entertainment and Recreation||-0.031||0.000||0.041||0.054||-0.347|
|Accommodation and Food Services||0.128||0.047||0.120||0.068||-0.920|
|Other Services (except Public Administration)||-0.001||0.111||-0.012||0.064||-0.256|
Source: Table 36-10-0402-01 Gross domestic product (GDP) at basic prices, by industry, provinces and territories (x 1,000,000), released May 3, 2021.
Related downloads for this release:
Annual GDP By Industry Report PDF (157KB)