Although the oil and gas sector remains Alberta’s largest industry, accounting for 17 per cent of its GDP, the province’s GDP shares of other sectors, such as construction, real estate, finance and insurance, and business and commercial services grew significantly between 1986 and 2016.
Between 1986 and 2016, several non-energy sectors of the Alberta economy have grown significantly, including:
- Construction: 7.0% of GDP to 10.7%
- Finance and real estate: 13.5% of GDP to 16.7%
- Business and commercial services: 6.6% of GDP to 11.7%
Between 2006 and 2016, Alberta accounted for 22 per cent of Canada’s population growth. In fact, Alberta’s population increase of 24 per cent over that period was the largest increase of any province or state in North America.
In 2016, almost 2.3 million Albertans were employed, international merchandise exports were $79 billion, per capita investment in Alberta was $14,606 (more than twice the national average of $6,579), and investment totaled $62 billion.
Here are a few key economic indicators that demonstrate the growth in several areas of Alberta’s economy.
Sources: Statistics Canada, Alberta Treasury Board and Finance, Alberta Economic Development and Trade