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November 07, 2019PROVINCIAL GDP BY INDUSTRY 2018 [REVISED] The revised estimates of GDP by industry for the provinces and territories in 2018 were released today by Statistics Canada. The following article has been revised to reflect these revisions.
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. In 2018, Nova Scotia real GDP grew 1.5 per cent, the fifth consecutive year of growth. Real GDP growth was revised down in 2016 to 1.4 per cent and revised up in 2017 to 1.7 per cent. The goods-producing sector expanded by 1.0 per cent while the service-producing industries grew by 1.7 per cent in 2018.
The goods-producing sector grew 1.0 per cent. Agriculture, forestry, fishing and hunting was down 2.9 per cent with declines in crop production (except cannabis) (-9.9 per cent), aquaculture (-25.3 per cent), and fishing, hunting and trapping (-3.0 per cent) only partially offset by increases in animal production (7.7 per cent) and forestry and logging (4.4 per cent).
Mining, quarrying and oil and gas extraction expanded 22.5 per cent with the first full year of production at Touquoy gold mine and increases in support activities within the sector. Oil and gas extraction fell 44.9 per cent with final production at Deep Panuke and Sable in 2018. Utilities real GDP was up 4.3 per cent on higher electric power generation, transmission and distribution.
Construction real GDP fell 4.4 per cent with decreases in engineering construction (-22.1 per cent) offsetting increases in residential (5.5 per cent) and non-residential (9.2 per cent) building construction. Completion of major projects including Maritime Link and gold mine infrastructure were important factors in construction sector decline.
Manufacturing real GDP was up 4.4 per cent, the fourth consecutive year of growth, with notable gains in rubber product manufacturing (13.2 per cent), pharmaceutical and medicine (10.6 per cent) and paper manufacturing (13.5 per cent) and declines in seafood product (-2.0 per cent), wood product (-9.2 per cent) and machinery (-5.4 per cent).
Service-producing industries GDP grew by 1.7 per cent in 2018. Wholesale (0.3 per cent) and retail trade (0.6 per cent) had significantly slower growth in 2018 than 2017 with declines in motor vehicle and parts wholesale and retail.
Transportation and warehousing real GDP was up 2.7 per cent on growth across subsectors except pipeline transportation.
Information and cultural industries grew 1.4 per cent. There was a decrease of 18.4 per cent among newspaper, periodical, book and dictionary publishers as some newspapers moved from daily to weekly publication schedules.
Finance and insurance rose 0.6 per cent in 2018 after declining 0.5 per cent in 2017. Depository credit intermediation (0.9 per cent) grew after declining the previous year while non-depository credit intermediation (-2.6 per cent) declined after growing the previous 3 years. Insurance carriers real GDP declined 3.4 per cent.
Real estate and rental and leasing real GDP growth was 1.7 per cent in 2018 with growth in owner-occupied imputed rent (2.4 per cent), offices of real estate agents/brokers (4.0 per cent) and rental/leasing services (0.2 per cent) offset declines in lessors of real estate (-1.5 per cent).
Professional, scientific and technical services grew 3.7 per cent in 2018 after declining 1.1 per cent in 2017. Growth among the subsectors of accounting (3.3 per cent), computer systems design (11.7 per cent), and scientific research an development services (9.1 per cent) offset declines seen in legal services (-6.8 per cent), specialized design services (-3.5 per cent), and advertising services (-4.8 per cent).
Administrative and support services real GDP grew by 3.3 per cent. There was higher output in office administrative, business, security and building support services.
Accommodation services (4.4 per cent), food services (0.2 per cent), arts, entertainment and recreation (1.8 per cent), and other services (except public administration) (2.5 per cent) were all up in 2018.
The public sector (education, health care and public administration) grew 1.8 per cent in 2018. Education services grew 1.5 per cent on higher output of elementary and secondary schools, universities and colleges. Health care and social assistance grew 2.5 per cent in 2018 after growth of 1.8 per cent in 2017 with increases in all subsectors. Public administration (1.4 per cent) was up with increases in defense service (1.2 per cent), federal public administration (1.6 per cent), provincial public administration (0.7 per cent) and local, municipal, regional and aboriginal public administration (2.3 per cent).
All provinces, except Newfoundland and Labrador, reported positive economic growth in 2018. Nationally, real GDP grew by 2.1 per cent. The fastest growth occurred in Prince Edward Island (2.8 per cent), followed by Quebec and British Columbia (both 2.7 per cent).
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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