Gross Domestic Product (GDP) by Industry
Gross Domestic Product (GDP) by Industry, 2018
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 November 7, 2019 Statistics Canada released revised Provincial Gross Domestic Product (GDP) by Industry data for 2016 to 2018. The P.E.I. GDP for all industries in chained 2012 dollars was valued at $5,789 million in 2018, an increase of 2.8 per cent over 2017. This is an increase of 0.2 percentage points over the preliminary estimates released in the spring of 2019. By this measure, the P.E.I. economy grew by 4.4 per cent in 2017 and by 2.1 per cent in 2016. The 4.4 per cent growth in 2017 was the fastest growth since 2002. These are revisions from the preliminary estimates, which showed 3.4 per cent growth in 2017 and 1.7 per cent growth in 2016.
Diagram 1 shows GDP by Industry growth for PEI from 2009 to 2018.
Table 1 shows GDP By Industry growth by province and territory since 2014.
|Newfoundland and Labrador||-1.1||-1.1||1.5||0.4||-3.3|
|Prince Edward Island||0.4||1.4||2.1||4.4||2.8|
Prince Edward Island
Goods production increased 3.0 per cent, led by a 4.7 per cent increase in manufacturing and 4.0 per cent increase in construction. Agriculture, forestry, fishing and hunting declined by 0.7 per cent in 2018.
The 4.0 per cent increase in manufacturing was due mainly to a 14.3 per cent increase in aerospace products and parts manufacturing and a 7.4 per cent increase in pharmaceutical and medicine manufacturing. Food manufacturing declined by 0.6 per cent. Seafood product preparation and packaging increased 2.0 per cent while fruit and vegetable preserving and specialty food manufacturing fell by 4.1 per cent.
Following growth of 21.6 per cent in 2017, construction saw continued growth in 2018, increasing 4.0 per cent. This was mainly due to a 9.0 per cent increase in residential construction, the fourth consecutive year of growth for that sector. Non-residential building construction increased by 4.4 per cent, while engineering construction fell by 4.7 per cent. Electric power engineering construction decreased by 36.3 per cent as the Northumberland Strait electric cable project was completed in 2017.
Agriculture, forestry, fishing and hunting fell by 0.7 per cent, due to a 3.8 per cent decline in crop production. Animal production increased by 3.1 per cent, while fishing, hunting and trapping grew by 1.3 per cent and aquaculture increased by 1.9 per cent.
Utilities saw an increase of 5.3 per cent in 2018.
In 2018 the service sector increased by 2.7 per cent, following a 2.8 per cent increase in 2017. The largest increases occurred in real estate and rental and leasing (2.6 per cent), health care and social assistance (3.2 per cent), public administration (2.3 per cent), educational services (3.9 per cent), and administrative and support, waste management and remediation services (8.3 per cent). The only service sector to see a decline was other services (except public administration) (-2.0 per cent). Table 2 shows industry detail of the provincial economy from 2014 to 2018.
P.E.I. GDP BY INDUSTRY GROWTH
(constant chained 2012 dollars)
|Percentage Growth||Value (millions $)|
|Agriculture, Forestry, Fishing and Hunting||-0.4||1.4||0.8||6.6||-0.7||362.4|
|Crop and Animal Production||0.5||-0.1||6.4||1.8||-1.7||243.0|
|Forestry & Logging||-5.0||13.2||7.0||-15.2||10.3||4.3|
|Fishing, Hunting & Trapping||-4.2||4.6||-9.6||15.8||1.3||95.8|
|Non-Residential Building Construction||-7.2||-19.4||10.3||43.1||4.4||96.4|
|Seafood Product Prep and Packaging||27.8||10.5||9.2||0.9||2.0||70.8|
|Aerospace product and parts manufacturing||-10.8||20.3||6.2||-0.9||14.3||87.1|
|Transportation & Warehousing||6.0||4.7||4.4||7.2||3.8||200.2|
|Information & Culture||2.1||4.7||1.4||1.3||3.0||176.0|
|Finance and Insurance||0.6||2.0||2.3||2.3||2.1||300.0|
|Real Estate and Rental and Leasing||2.2||2.0||2.2||2.9||2.6||765.2|
|Professional, Scientific and Technical Services||2.1||6.1||5.8||3.4||0.8||167.9|
|Management of Companies and Enterprises||-7.7||-1.9||-19.0||0.4||-4.4||23.8|
|Administrative and Support, Waste Management and Remediation Services||0.1||-10.7||-15.0||-2.2||8.3||134.2|
|Health Care and Social Assistance||1.1||0.7||1.7||1.7||3.2||566.4|
|Arts, Entertainment and Recreation||1.8||-9.3||-3.4||3.9||3.0||58.2|
|Accommodation and Food Services||3.2||5.1||4.3||3.5||3.5||187.2|
|Other Services (except Public Administration)||1.4||0.9||-0.1||3.3||-2.0||119.9|
Note: the sum of the chained values for each component of an aggregate does not equal the chained value of the aggregate.
Source: Table 36-10-0402-01 Gross domestic product (GDP) at basic prices, by industry, provinces and territories (x 1,000,000), released November 7, 2019.
Related downloads for this release:
Annual GDP By Industry Report PDF (157KB)