Gross Domestic Product (GDP) by Industry

Gross Domestic Product (GDP) by Industry, 2017

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.

Overview

On November 8, 2018 Statistics Canada released revised Provincial Gross Domestic Product (GDP) by Industry data for 2015 to 2017.

The P.E.I. GDP for all industries in chained 2012 dollars was valued at $5,540 million in 2017, an increase of 3.4 per cent over 2016. This is an increase of 0.2 percentage points over the preliminary estimates. By this measure, the P.E.I. economy grew by 1.7 per cent in 2016 and by 1.4 per cent in 2015. These are revisions from the preliminary estimates, which showed 2.2 per cent growth in 2016 and 1.5 per cent growth in 2015.

Diagram 1 shows GDP by Industry growth for PEI from 2008 to 2017.

 

Table 1 shows GDP By Industry growth by province and territory since 2013.

PROVINCE/TERRITORY 2013 2014 2015 2016 2017
Newfoundland and Labrador 5.0 -1.1 -1.1 1.7 0.9
Prince Edward Island 1.9 0.3 1.4 1.7 3.4
Nova Scotia -0.3 1.0 0.7 1.5 1.5
New Brunswick -0.4 0.1 0.8 1.4 2.0
Quebec 1.3 1.6 1.0 1.5 2.9
Ontario 1.4 2.5 2.6 2.4 2.8
Manitoba 2.7 1.9 1.4 1.7 3.1
Saskatchewan 6.4 1.9 -0.8 -0.3 2.3
Alberta 5.8 5.9 -3.5 -4.1 4.6
British Columbia 2.4 3.6 2.3 3.4 4.0
Yukon 1.5 0.6 -7.6 7.0 2.9
Northwest territories 2.8 4.7 1.0 1.3 3.9
Nunavut 10.1 -1.3 -0.4 3.5 10.3

Prince Edward Island

Goods

Goods production increased 7.3 per cent, led by a 19.2 per cent increase in construction and a 5.6 per cent increase in manufacturing. Agriculture, Forestry, Fishing and Hunting grew by 1.5 per cent in 2017.

Following an increase of 1.6 per cent in 2016, construction increased strongly in 2017 with growth of 19.2 per cent. This was mainly due to a 28.6 per cent increase in residential construction, the third consecutive year of growth for that sector. All sectors of the construction industry saw growth in 2017 with non-residential building construction increasing by 10.0 per cent and engineering construction by 19.2 per cent. Electric power engineering construction increased by 16.9 per cent as the Northumberland Strait electric cable project was completed in 2017.

The increase in manufacturing was due mainly to a 6.2 per cent increase in food manufacturing and a 5.8 per cent increase in chemical manufacturing. Increases for food manufacturing included fruit and vegetable preserving and specialty food manufacturing (6.7 per cent), dairy product manufacturing (12.2 per cent), and seafood product preparation and packaging (1.4 per cent). The increase in chemical manufacturing was mostly due to a 9.2 per cent increase in pharmaceutical and medicine manufacturing.

Although agriculture, forestry, fishing and hunting saw modest growth of 1.5 per cent, crop production saw a decrease of 2.7 per cent. Animal production increased by 4.3 per cent, while fishing, hunting and trapping grew by 4.6 per cent and aquaculture increased by 4.8 per cent.

Utilities saw an increase of 2.8 per cent in 2017.

 

Services

In 2017 the service sector increased by 2.2 per cent, following a 1.8 per cent increase in 2016. The largest increases occurred in real estate and rental and leasing (2.9 per cent), retail trade (4.6 per cent), public administration (1.7 per cent), health care and social assistance (1.5 per cent), and educational services (1.9 per cent). The only service sector to see a decline was administrative and support, waste management and remediation services (-2.6 per cent). Table 2 shows industry detail of the provincial economy from 2013 to 2017.

Table 2 shows industry detail of the provincial economy from 2013 to 2017.

P.E.I. GDP  BY INDUSTRY GROWTH

(constant chained 2012 dollars)

  Percentage Growth

Value

($ millions)

INDUSTRY 2013 2014 2015 2016 2017 2017
Agriculture, Forestry, Fishing and Hunting 1.7 -0.8 0.7 -0.5 1.5 333.8
    Crop and Animal Production -0.8 0.0 -1.3 5.8 -0.2 231.0
    Forestry & Logging 2.6 -5.0 13.2 9.3 -4.3 4.5
    Fishing, Hunting & Trapping 6.6 -4.2 4.6 -11.6 4.6 83.6
Mining -3.3 -10.3 -30.8 5.6 47.4 2.8
Utilities 1.3 6.3 4.7 2.2 2.8 82.0
Construction 3.6 -18.1 -2.3 1.6 19.2 316.7
    Residential Construction 3.2 -17.0 7.9 7.8 28.6 162.4
    Non-Residential Building Construction -5.6 -7.2 -19.4 11.5 10.0 71.7
    Engineering Construction 45.4 -54.7 -7.8 5.3 19.2 40.3
Manufacturing 7.6 10.6 10.6 2.5 5.6 560.1
    Food Manufacturing 11.7 19.1 -4.2 7.0 6.2 242.9
    Seafood Product Prep and Packaging 2.3 27.8 10.5 14.9 1.4 73.4
    Chemical manufacturing 22.3 11.4 23.2 -1.5 5.8 100.6
    Aerospace product and parts manufacturing 6.0 -10.8 20.3 12.8 -3.7 78.7
TOTAL GOODS 4.3 -0.6 4.1 1.4 7.3 1,229.6
Wholesale Trade 15.2 0.8 -7.9 -0.9 4.2 113.9
Retail Trade 1.8 0.4 -1.5 3.7 4.6 393.8
Transportation & Warehousing 1.0 6.0 4.7 3.5 4.3 186.1
Information & Culture 0.2 2.1 4.7 -0.5 0.3 165.9
Finance and Insurance 2.6 0.6 2.0 3.9 2.1 297.5
Real Estate and Rental and Leasing 1.5 2.2 2.0 2.5 2.9 747.6
Professional, Scientific and Technical Services 1.8 2.1 6.1 1.6 0.5 155.6
Management of Companies and Enterprises -4.0 -7.7 -1.9 -2.6 0.3 29.9
Administrative and Support, Waste Management and Remediation Services 2.1 0.1 -10.7 -2.7 -2.6 141.2
Educational Services 0.1 -0.6 0.7 2.1 1.9 406.4
Health Care and Social Assistance -0.7 1.1 0.7 1.8 1.5 548.1
Arts, Entertainment and Recreation 10.9 1.8 -9.3 -0.7 4.8 58.6
Accommodation and Food Services 6.3 3.2 5.1 3.8 3.6 180.1
Other Services (except Public Administration) -4.1 1.4 0.9 1.9 2.4 123.7
Public Administration -0.6 -2.5 0.3 0.1 1.7 687.8
TOTAL SERVICES 1.2 0.6 0.6 1.8 2.2 4,235.0
ALL INDUSTRIES 1.9 0.3 1.4 1.7 3.4 5,540.0
             

Note: the sum of the chained values for each component of an aggregate does not equal the chained value of the aggregate.

This release incorporates revisions to the provincial and territorial economic accounts for 2015 and 2016 and the addition of estimates for 2017. The provincial–territorial gross domestic product by industry data from 2015 to 2017 were also revised. Both data series incorporate the new 2015 benchmark provincial and territorial supply and use tables, revisions to the national income and expenditure accounts released today, as well as revised provincial–territorial source data. A new base year of 2012 was adopted for volume estimates, that is, those estimates controlling for the effects of price changes; this replaces the previous 2007 base year.

Source: Table 36-10-0402-01 Gross domestic product (GDP) at basic prices, by industry, provinces and territories (x 1,000,000), released November 8, 2018.

Related downloads for this release:

Annual GDP By Industry Report PDF (157KB)

 

Published date: 
November 9, 2018
Finance department logo

General Inquiries

Department of Finance
2nd Floor South, Shaw Building
95 Rochford Street
P.O. Box 2000
Charlottetown, PE, C1A 7N8

Phone: (902) 368-4040
Fax: (902) 368-6575

FinanceInquiries@gov.pe.ca