Gross Domestic Product (GDP) by Industry
Gross Domestic Product (GDP) by Industry, 2019
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 9, 2020 Statistics Canada released revised figures for 2017 to 2019 provincial and territorial gross domestic product by industry.
The P.E.I. GDP for all industries in chained 2012 dollars was valued at $6,077 million in 2019, an increase of 5.1 per cent over 2018. This is an increase of 0.6 percentage points over the preliminary estimates released in the spring of 2020. By this measure, the P.E.I. economy grew by 2.6 per cent in 2018 and by 4.5 per cent in 2017. These are revisions from the preliminary estimates, which showed 2.8 per cent growth in 2018 and 4.4 per cent growth in 2017.
Diagram 1 shows GDP by Industry growth for PEI from 2010 to 2019.
Table 1 shows GDP By Industry growth by province and territory since 2015.
|Newfoundland and Labrador||-1.1||1.5||1.3||-3.5||4.0|
|Prince Edward Island||1.4||2.1||4.5||2.6||5.1|
Prince Edward Island
Real GDP expanded 5.1 per cent in 2019, the highest growth among provinces, following 2.6 per cent growth in 2018. Good producing industries increased 9.2 per cent, outpacing service industry growth, which was 3.6 per cent. Growth was broad based with 19 of 20 industry groups recording higher output.
Goods production increased 9.2 per cent, led by a 15.8 per cent increase in construction. Agriculture, forestry, fishing and hunting increased by 10.6 per cent while manufacturing saw an increase of 5.7 per cent.
Following a decline of 0.6 per cent in 2018, the construction sector rebounded with growth of 15.8 per cent in 2019. This was mainly due to a 27.7 per cent increase in residential construction, the fifth consecutive year of growth for that sector. Non-residential building construction increased by 11.5 per cent, while engineering construction grew by 7.2 per cent.
The 10.6 per cent increase in Agriculture, forestry, fishing and hunting was due mainly to a 16.6 per cent increase in crop production and an 11.0 per cent increase in fishing, hunting and trapping. Animal production and aquaculture declined by 2.0 per cent in 2019.
The manufacturing sector on PEI expanded for the ninth consecutive year, rising by 5.7 per cent in 2019. Food manufacturing increased by 5.6 per cent, led by 8.7 per cent growth in seafood product preparation and packaging and 5.5 per cent growth in fruit and vegetable preserving and specialty food manufacturing. Dairy product manufacturing fell by 5.3 per cent following three consecutive years of growth.
Utilities saw an increase of 2.3 per cent in 2019.
In 2019 the service sector increased by 3.6 per cent, following a 2.7 per cent increase in 2018. The largest increases occurred in real estate and rental and leasing (3.9 per cent), health care and social assistance (3.7 per cent), educational services (3.9 per cent), public administration (2.3 per cent), and transportation and warehousing (7.0 per cent). The only service sector to see a decline was management of companies and enterprises (-17.0 per cent). Table 2 shows industry detail of the provincial economy from 2015 to 2019.
Table 2, P.E.I. GDP BY INDUSTRY GROWTH
(constant chained 2012 dollars)
|Percentage Growth||Value (millions $)|
|Agriculture, Forestry, Fishing and Hunting||1.4||0.8||6.8||0.5||10.6||406.4|
|Crop and Animal Production||-0.1||6.4||3.3||-1.0||10.7||274.8|
|Fishing, Hunting & Trapping||4.6||-9.6||14.0||3.1||11.0||106.6|
|Non-Residential Building Construction||-19.4||10.3||46.2||8.2||11.5||113.7|
|Seafood Product Prep and Packaging||10.5||9.2||2.3||1.3||8.7||77.5|
|Aerospace product and parts manufacturing||20.3||6.2||0.3||10.1||9.5||93.0|
|Transportation & Warehousing||4.7||4.4||6.2||2.6||7.0||209.6|
|Information & Culture||4.7||1.4||0.1||1.8||4.1||178.8|
|Finance and Insurance||2.0||2.3||6.3||2.3||4.4||325.9|
|Real Estate and Rental and Leasing||2.0||2.2||3.1||2.7||3.9||797.3|
|Professional, Scientific and Technical Services||6.1||5.8||5.5||4.8||2.5||182.6|
|Management of Companies and Enterprises||-1.9||-19.0||-14.1||-14.6||-17.0||15.1|
|Administrative and Support, Waste Management and Remediation Services||-10.7||-15.0||-4.1||2.3||5.1||130.7|
|Health Care and Social Assistance||0.7||1.7||1.7||2.8||3.7||584.8|
|Arts, Entertainment and Recreation||-9.3||-3.4||0.0||5.0||6.3||60.7|
|Accommodation and Food Services||5.1||4.3||1.5||3.9||2.2||188.4|
|Other Services (except Public Administration)||0.9||-0.1||5.3||-0.6||3.1||127.9|
Note: the sum of the chained values for each component of an aggregate does not equal the chained value of the aggregate.
Table 3, P.E.I. GDP BY INDUSTRY, CONTRIBUTION TO CHANGE
|Contribution to Change (percentage points)|
|Agriculture, Forestry, Fishing and Hunting||0.1||0.1||0.5||0.0||0.8|
|Crop and Animal Production||0.0||0.3||0.1||0.0||0.4|
|Fishing, Hunting & Trapping||0.1||-0.2||0.3||0.1||0.3|
|Non-Residential Building Construction||-0.3||0.1||0.5||0.1||0.2|
|Seafood Product Prep and Packaging||0.1||0.1||0.0||0.0||0.1|
|Aerospace product and parts manufacturing||0.2||0.1||0.0||0.2||0.2|
|Transportation & Warehousing||0.2||0.1||0.2||0.1||0.3|
|Information & Culture||0.1||0.0||0.0||0.1||0.1|
|Finance and Insurance||0.1||0.1||0.3||0.1||0.2|
|Real Estate and Rental and Leasing||0.3||0.3||0.4||0.3||0.5|
|Professional, Scientific and Technical Services||0.2||0.2||0.2||0.2||0.1|
|Management of Companies and Enterprises||0.0||-0.1||-0.1||0.0||0.0|
|Administrative and Support, Waste Management and Remediation Services||-0.3||-0.4||-0.1||0.0||0.1|
|Health Care and Social Assistance||0.1||0.2||0.2||0.3||0.4|
|Arts, Entertainment and Recreation||-0.1||0.0||0.0||0.0||0.1|
|Accommodation and Food Services||0.2||0.1||0.0||0.1||0.1|
|Other Services (except Public Administration)||0.0||0.0||0.1||0.0||0.1|
Source: Table 36-10-0402-01 Gross domestic product (GDP) at basic prices, by industry, provinces and territories (x 1,000,000), released November 1, 2020.
Related downloads for this release:
Annual GDP By Industry Report PDF (157KB)