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For additional information relating to this article, please contact:

Thomas Storring	Director – Economics and Statistics
Tel: 902-424-2410	Email: thomas.storring@novascotia.ca

November 09, 2021
PROVINCIAL GDP BY INDUSTRY 2020 [REVISED]

Statistics Canada released revised estimates of real GDP by industry for the provinces and territories in 2020.

Real GDP growth is measured at the industry level with chained 2012 dollars at basic prices (sellers' prices before taxes less subsidies on products) that removes the effect of price changes. Nova Scotia's real GDP was estimated to have declined 2.5% during 2020, following six years of positive growth. This decline is smaller than the preliminary 3.2% decline reported previously and the second smallest decline among provinces. Real GDP in 2020 was smaller than 2019 but still larger than 2018. 

Goods-producing industries rose 0.8% in 2020. Service-producing industries declined 3.3%, the only annual decline in the data for 1997-2020 period.

In goods producing industries, real GDP declines in agriculture, forestry, fishing and hunting, utilities and manufacturing were more than offset by increases in mining and quarrying and construction.

• Crop production excluding cannabis was down 2.2% with licensed cannabis production nearly doubling. Animal production (-9.0%) and aquaculture (-6.8%) also declined.
• Real GDP from forestry/logging (not including processing industries) was down 19.6% in 2020 and support activities for forestry was up 15.2%.
• Fishing real GDP decreased by 1.3% in 2020.
• Real GDP in mining and quarrying was up 7.6% with rising gold mining and stone mining and quarrying.
• Utility real GDP was down 6.5% with lower economic activity in the province.
• Construction real GDP was up 7.8% with residential building construction (+1.3%) and transportation engineering construction (+81.2%) offsetting lower non-residential building construction (-4.8%) and repair construction (-0.4%).
• Manufacturing real GDP declined 3.2%.
• Food manufacturing was down (-2.2%) with lower activity in most subsectors, including seafood products (-3.6%). Fruit and vegetable preservation, meat, dairy, and bakeries were also down for the year. Soft drinks (+1.4%), Breweries (+13.9%) and wineries/distilleries (+17.0%) gained in 2020.
• Sawmills real GDP was mostly unchanged (-1.5%) but pulp, paper and paperboard mills (-34.1%) declined with closure of Northern Pulp.
• Pharmaceutical (+34.7%), plastics (+4.8%), cement/concrete (+11.1%), structural metal (+12.7%), other electronic products (+18.3%), and medical equipment/supplies (+72.7%) had increases in activity in 2020.
• Rubber product manufacturing (-13.2%), industrial/commercial machinery (-16.3%), aerospace product/parts (-11.9%), shipbuilding (-10.9%) real GDP all declined in 2020.

Service-producing industries GDP declined by 3.3% with only finance and insurance; and real, estate and rental and leasing showing growth last year.

• Wholesale real GDP (-1.3%) declined with lower activity showing up mainly in food/beverage, personal and household goods and motor vehicles.
• Retail real GDP declined 3.0% with lower activity in motor vehicle and parts dealers (-16.6%), home furnishing stores (-7.3%), health and personal care stores (-2.3%), gasoline stations (-10.9%), clothing stores (-23.8%), sporting/hobby stores (-9.6%). Higher real GDP occurred with food stores (+2.2%), electronics and appliance stores (+6.3%), building material/garden equipment and supplies (+11.1%), general merchandise (+6.4%), miscellaneous stores (+4.5%), and non-store retailers (+6.8%).
• Transportation and warehousing (-14.8%) declined with air transportation (-79.2%), rail transportation (-10.7%), truck transportation (-7.0%), urban transit systems (-41.7%), taxi (-43.5%), and other transit/sightseeing transportation (-42.2%) seeing significant reductions. Postal services (+6.4%), couriers (+6.5%)  and water transportation (+1.9%) also reported higher real GDP.
• Information and cultural industries (-1.7%) was mixed with declines in publishing (newspapers, periodical, books), motion picture exhibition, motion picture production, broadcasting, and other information services and increases among software publishers, data processing/hosting, and telecommunication.
• Within finance and insurance (+5.5%), activity increased for banks (+6.9%), credit unions (+7.4%), and insurance carriers (+4.3%), and financial investment services (+11.3%).
• Real estate (+3.0%) was positive with growth for lessors of real estate (+2.2%), owner-occupied dwellings (the imputed non-market activity of households) (+2.5%), offices of real estate agents (+19.4%) while real GDP in rental and leasing services (-22.0%) declined.
• Professional, scientific and technical services real GDP (-1.5%) declined and was lower in most subsectors including, accounting, architectural/engineering, specialized design, consulting and advertising. Legal services (+6.1%) and computer system design services (+3.7%) increased in 2020.
• Administrative and support, waste management and remediation services real GDP (-13.1%) declined in all subsectors.
• Real GDP in educational services (-4.4%) declined with elementary and secondary schools (-8.0%) seeing larger decline than universities (-0.1%) and community colleges (-2.0%).
• Health care and social assistance (-4.4%) real GDP declined in all subsectors. The decreases for the subsectors were: Offices of physicians (-3.3%), dentists (-15.0%), and miscellaneous ambulatory health care services (-11.7%) and hospitals (-3.1%), nursing and residential care facilities (-0.3%), social assistance (including day care) (-8.1%).
• Arts, entertainment and recreation (-46.7%) had the largest decline in real GDP 2020, with a 57.1% drop in GDP from performing arts and spectator sports alongside a 47.7% decline in GDP from amusement and recreation.
• Real GDP in accommodation and food services (-31.4%) was down with traveller accommodation (-50.9%) and food services and drinking places (-26.0%) seeing significantly less activity during the pandemic.
• Other services (except public administration) (-12.1%) as there was lower activity in all sub sectors including repair services, personal services, funeral services, dry cleaning, religious organizations, and civic and professional organizations.
• Public administration real GDP  declined 0.2% in 2020 with higher defense services (+3.5%) and provincial government administration (+0.2%) offset by public administration declines among federal (-1.0%), local/municipal (-7.0%) and Aboriginal (-0.7%) governments.

 

The largest contribution to the decline in real GDP in 2020 came from accommodation and food services, transportation and warehousing, health care and social assistance, and educational services.

National real GDP at basic prices was down 5.3% in 2020. All provinces reported declines with the largest in Alberta (-8.0%) and the smallest in Prince Edward Island (-1.8%) and Nova Scotia (-2.5%).

Goods industry real GDP declined 6.1% in Canada with declines in all but two provinces: Nova Scotia (+0.8%) and British Columbia (+0.1%). The largest decline among provinces was in Alberta (-10.4%).

Service industry real GDP declined 5.0% in Canada in 2020 with a 3.3% decline in Nova Scotia. All provinces reported lower services activity with the largest decline in Alberta (-6.6%) and the smallest in Prince Edward Island (-2.3%).

Public sector GDP (which is included in service industries) declined 4.2% in Canada and 2.7% in Nova Scotia in 2020. All provinces reported declines with the largest decline in Ontario (-4.6%) and the smallest in Prince Edward Island (-2.1%).

Source: Statistics Canada.  Table  36-10-0402-01   Gross domestic product (GDP) at basic prices, by industry, provinces and territories (x 1,000,000)

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