Annual Statistical Review highlights record year
The numbers show that 2017 was a record year for Prince Edward Island, showcasing the Island’s population, social makeup, and economy.
The 44th Annual Statistical Review gathers data from provincial government departments, the private sector, and Statistics Canada to provide a socio-economic snapshot of Prince Edward Island. More than 100 data tables outline the province’s economic performance in 2017.
“The annual snapshot helps governments and businesses determine how best to deliver the programs and services Islanders depend on,” Finance Minister Heath MacDonald said. “The review confirms the economy is in great shape as we continue to invest in the areas most important to Islanders, like by adding new drugs to the formulary, helping with the cost of post-secondary tuition, increasing the available child care spaces, providing tax relief, and much more.
“As a government,” he said, “we will continue to invest in industries, businesses, and Islanders at all levels to continue our sustainability into the future.”
The data shows several all-time high numbers for the province including:
• total manufacturing shipments increased by 8 per cent, to a value of $1.79 billion;
• value of PEI international exports of goods rose by 5 per cent, to reach $1.32 billion;
• value of total fish landings in 2017 increased by 20.8 per cent, to $324.1 million; and
• total lobster landings increased by 19 percent, and total value increased by 16.7 percent to $225.9 million.
“Prince Edward Island is demonstrating what makes us mighty by surpassing everyone’s expectations,” the minister said, “thanks to the dedication, entrepreneurial spirit, and hard work of Islanders.”
The Annual Statistical Review 2017 can be found online at www.princeedwardisland.ca/ASR. Current statistical information is available on the department’s Economics and Statistics Website.
Highlights of the 2017 Annual Statistical Review:
• GDP by industry expanded by 3.2 percent
• On July 1, 2017, Prince Edward Island’s population was estimated at 152,021, an increase of 1.7 percent over 2016
• Employment increased by 3.1 percent the second highest percentage growth among provinces
• The all-items Consumer Price Index (CPI) increased by 1.8 percent, compared to a 1.6 percent rise nationally
• Total manufacturing shipments increased by 8 per cent to a value of $1.79 billion, a new all-time high
• The value of PEI international exports of goods rose by 5 per cent to reach $1.32 billion, a new all-time high
• The CPI Energy index increased for the first time in three years, rising by 7.3 per cent
• Labour income rose 4.4 per cent to reach $3.32 billion
• Retail sales increased for the 8th consecutive year, with a 6.3 percent increase
• The value of total fish landings in 2017 increased by 20.8 per cent to $324.1 million, an all-time high
• Total lobster landings increased by 19 per cent and total value increased by 16.7 per cent to $225.9 million, an all-time high for PEI
• Total investment in the province was valued at $627.2 million, an increase of 16 percent over 2016
• There were 911 housing starts in 2017, up by 63.6 percent in 2016