Gross Domestic Product
Gross Domestic Product (GDP) is a measure of the economic production which takes place within the geographical boundaries of a province or country. It can be measured at basic prices (by industry) or at market prices in chained 2012 dollars.
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Gross Domestic Product at Basic Prices ($ billion)

Trend % CHANGE
Gross Domestic Product at Basic Prices ($ billion)
TREND: INC DEC NO CHG POS NEG
Gross Domestic Product at Basic Prices ($ billion)
TREND: INC DEC NO CHG POS NEG

Analysis

PUBLISHED - May 3, 2021
Alberta's GDP at basic prices was $307.1 billion in 2020, a decrease of 8.2% from 2019. This historic contraction, the largest in the country, was particularly severe for Alberta as it dealt with both the COVID-19 pandemic and the oil price collapse in early 2020. GDP decreased in all provinces by a significant amount. Quebec and Newfoundland and Labrador were tied for the second-largest decline (-5.3%), followed by Saskatchewan (-5.2%). For Alberta, two industries experienced an increase in GDP: Agriculture, forestry, fishing, and hunting (+7.5%), and Finance and insurance (+5.5%). Arts, entertainment and recreation experienced the most severe contraction (-39.2%), followed by Accommodation and food services (-26.9%). The GDP contribution of Alberta's largest industry, Mining, quarrying, and oil and gas extraction, was $79.9 billion, a 12.2% decline from 2019. Alberta's GDP at market prices increased 0.1% year-over-year to $347.1 billion in 2019.