Annual statistical review provides snapshot of province’s progress

The provincial government’s 2016 Annual Statistical Review is now available.

The 43rd edition 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 2016. It is online at Annual Statistical Review princeedwardisland.ca/ASR.

“The statistical review is an invaluable source of information that helps businesses and organizations in their planning,” said Rory Francis, president of the Greater Charlottetown Area Chamber of Commerce.

This year’s publication includes expanded tables on exports and investments. The 2016 return of the mandatory long-form census by Statistics Canada helps to make the statistical review even more accurate and complete.

Among other things, the data show
- manufacturing shipments increased by 5.3 per cent to reach a new all-time high;
- international export growth in 2016 was 1.1 per cent; 
- the value ($287 million) and number (8,768) of motor vehicles sold were all-time highs; 
- the value of lobster landings increased by 28.9 per cent; and
- the provincial economy grew by 2.4 per cent.

“The annual snapshot of our province helps governments and businesses make important policy decisions and is an important tool to determine the nature and scope of programs and services,” Finance Minister Allen Roach said. “The review confirms the economy is in good shape, and with a balanced budget, Islanders can be confident of further progress in the coming year.”

As well as the annual review, current statistical information is available on the department’s Economics and Statistics Website.

Backgrounder

Highlights of the 2016 Annual Statistical Review
• Island population as of July 1, 2016 was 148,649, an increase of 1.3 per cent over 2015

• 2016 economic growth of 2.4 per cent

• Total labour income increased by 3.6 per cent

• Lobster landings reached 30.6 million pounds, valued at $193.6 million

• Farm cash receipts valued $487.0 million, an increase of 2.1 per cent

• Consumer price index increased by 1.2 per cent

• Retail sales increased by 7.7 per cent, the highest among provinces

• Housing starts totaled 556, a slight decrease of 0.4 per cent

• New motor vehicle sales in 2016 numbered 8,768 and valued $287.1 million, both all-time highs

• International exports increased by 1.1 percent, to $1.3 billion

• Employment averaged 71,500, a decrease of 1,700 or 2.3 per cent

• Unemployment rate averaged 10.7, an increase of 0.3 percentage points over 2015

Media contact:
Wayne MacKinnon
(902) 314-3407
wemackinnon@gov.pe.ca