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 - Nov 9, 2021
Alberta's GDP at basic prices was $307.5 billion in 2020, a decrease of 8.0% 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 had the second-largest decline (-5.4%), followed by Newfoundland and Labrador (-5.3%), and Saskatchewan (-5.1%). For Alberta, three industries experienced an increase in GDP: Agriculture, forestry, fishing, and hunting (+7.9%), Finance and insurance (+5.7%), and Real estate and rental and leasing (+0.2%). Arts, entertainment and recreation experienced the most severe contraction (-41.2%), followed Management of companies and enterprises (-36.1%), and Accommodation and food services (-28.5%). The GDP contribution of Alberta's largest industry, Mining, quarrying, and oil and gas extraction, was $77.9 billion, a 12.5% decline from 2019. Alberta's GDP at market prices decreased 7.9% year-over-year to $319.7 billion in 2020.