Annual Statistical Review shows 2019 was record year for PEI

The Annual Statistical Review, released today, provides Islanders with a fulsome analysis of the province, shows how strong Prince Edward Island’s economy was in 2019.

The 46th Annual Statistical Review of the province includes data from provincial departments, Statistics Canada, and the private sector to provide a snapshot of Prince Edward Island across several topics.  

Some successes for Prince Edward Island include:

• economic growth of 4.5 per cent;
• employment growth of 2.6 per cent;
• total labour income increased by 4.5 per cent; and
• population growth of 2.2 per cent.

“This document shows how strong our economy was in 2019, and that placed us in the best position we could be in, before the COVID-19 pandemic. Our economy was strong due to the hard work of Islanders, and the strength of our Island industries, and we will continue to provide the supports needed to re-grow our economy to previous levels and beyond.”

- Finance Minister Darlene Compton

This year the review also includes data on greenhouse gas emissions, in addition to topics such as demography, labour, economic accounts, primary industry, and manufacturing, among others.

For more information, visit: Annual Statistical Review.

Media contact:
Spencer Lee
Department Finance
902-368-5501
snlee@gov.pe.ca 

Backgrounder

Highlights of the 2019 Annual Statistical Review:

• 2019 economic growth of 4.5 per cent (Real GDP By Industry)
• Island population as of July 1, 2019, was 156,947, an increase of 2.2 per cent over 2018, the highest growth rate in the country
• Employment averaged 78,000, an increase of 2,000 over 2018 or 2.6 per cent, the second-highest growth rate among provinces
• Unemployment rate averaged 8.8 per cent, a decrease of 0.6 percentage points over 2018 and the lowest annual rate on record
• Total labour income increased by 4.5 per cent
• Lobster landings reached 42.3 million pounds, valued at $238.5 million, both all-time highs
• Farm cash receipts valued $561 million, an increase of 9.4 per cent, with potato receipts rebounding following a decline in 2018
• All-Items Consumer Price Index for PEI increased by 1.2 per cent
• Retail sales increased by 3.6 per cent
• Housing starts totalled 1,504, an increase of 38.1 per cent
• New motor vehicle sales in 2019 numbered 8,110 and valued $298.7 million
• International exports increased by 7.9 percent, to reach $1.5 billion