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November 08, 2017PROVINCIAL GDP BY INDUSTRY 2016 Statistics Canada revised data on GDP by industry for the provinces and territories. The following article updates the data for the growth of the economy as measured at the industry level with chained 2007 dollars at basic prices (sellers' prices before taxes less subsidies on products) that removes the effect of price changes.
In 2016, Nova Scotia real GDP grew 1.0 per cent, following on growth of 1.2 per cent in 2015 and 1.0 per cent in 2014. The goods-producing sector expanded by 2.2 per cent and service-producing industries grew by 0.8 per cent.
The goods-producing sector expansion of 2.2 per cent follows on growth of 0.6 per cent in 2015. In 2016, construction activity expanded 8.8 per cent due to an increase in engineering construction with work on the Maritime Transmission link and development of Touquoy gold mine. Residential construction (+4.3%) increased while non-residential building construction (-11.3%) decreased with the completion of Halifax Shipyard Assembly facilities and near completion of Nova Centre. Manufacturing activity was up 2.8 per cent with increases in shipbuilding, aerospace, sawmills, and seafood products offsetting declines in paper manufacturing, fabricated metal and miscellaneous food manufacturing. Fishing, hunting and trapping activity declined 9.0 per cent due to a late start to lobster season and weather factors. Mining, quarrying and gas extraction declined 4.8 per cent with an increase in oil and gas extraction (+5.5%) and declines in other non-metallic mineral mining and quarrying (-16.9%) and support activities for oil and gas extraction (-26.4%).
Service-producing industries GDP grew by 0.8 per cent, following on growth of 1.3 per cent in 2015. Wholesale activity declined 2.6 per cent while retail activity was up 2.9 per cent on gains in motor vehicle and parts dealers, building material, and general merchandise stores. Transportation and warehousing activity grew with a 8.6 per cent increased in Air transportation. Real estate and rental and leasing, including imputed rent for owner-occupied dwellings, grew 1.8 per cent. Growth in professional, scientific and technical services was primarily from the growth in computer systems design and related services (+16.4%). Growth also occurred with amusement and recreation (+12.1%), traveller accommodations (+0.7%) and food services and drinking places (+2.5%). Real GDP decline in information and cultural industries, management of companies and enterprises, administrative and support services, educational services and other services (except public administration).
British Columbia (+3.6%) and Ontario (2.6%) continued for a second year to have the fastest real GDP growth among the provinces. Real GDP declined for a second consecutive year in both Saskatchewan and Alberta.
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