Canada GDP 2011: Alberta, Saskatchewan Led Nation's Economic Growth

CP  |  By Posted: 04/27/2012 8:54 am Updated: 04/27/2012 4:12 pm

OTTAWA - Statistics Canada says Alberta led the country in economic growth in 2011, followed closely by Saskatchewan.

The Canadian economy as a whole expanded 2.6 per cent in 2011, slowing somewhat after a 3.4 per cent expansion in 2010.

But in Alberta, the economy picked up speed. It surged 5.2 per cent last year, after a more tepid 3.3 per cent expansion a year earlier, buoyed by high energy prices that encouraged extraction and exploration in the oil and gas patch.

Saskatchewan's economy grew 4.8 per cent from the previous year, thanks to strong export demand for its natural resources.

The most populous province, Ontario, saw sluggish 2.0 per cent growth in 2011, led by mining and exploration, as well as manufacturing.

The only part of the country to see an outright contraction was Northwest Territories, where economic output dropped 5.5 per cent, led by a big decline in diamond mining.

Also on HuffPost:

Loading Slideshow...
  • Canada's 10 Fastest Growing Cities

    Percentages show population growth from 2006 census to 2011 census. Source: Canada 2011 Census

  • 10: Lloydminster, SK - 14%

    A view of the Husky Energy upgrader facility inLloydminster, Saskatchewan where bitumen and heavy oil are converted to synthetic oil. (The Canadian Press Images/Bayne Stanley)

  • 9: Squamish, BC - 14.6%

    Photo: YouTube screencap

  • 8: Cold Lake, AB - 15.4%

    Photo: City of Cold Lake

  • 7: Grande Prairie, AB - 16.8%

    Photo: Kathy Dempsey/Flickr

  • 6: Sylvan Lake, AB - 19.2%

    Photo: Wikimedia Commons

  • 5: Strathmore, AB - 19.7%

    Photo: City of Strathmore

  • 4: High River, AB - 20.6%

    Photo: City of High River Prairie grain elevator and grain storage bins near High River, Alberta with the Rocky Mountains visible in the distance. THE CANADIAN PRESS

  • 3: Steinbach, MB - 22.2%

    Photo: City of Steinbach

  • 2: Fort McMurray (Wood Buffalo), AB - 27.1%

    This Sept. 19, 2011 aerial photo shows a tar sands mine facility near Fort McMurray, in Alberta, Canada. (The Canadian Press, Jeff McIntosh)

  • 1: Okotoks, AB - 42.9%

    Photo: Xz1303, Wikimedia Commons

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OTTAWA - Statistics Canada says Alberta led the country in economic growth in 2011, followed closely by Saskatchewan.The Canadian economy as a whole expanded 2.6 per cent in 2011, slowing somewhat aft...
OTTAWA - Statistics Canada says Alberta led the country in economic growth in 2011, followed closely by Saskatchewan.The Canadian economy as a whole expanded 2.6 per cent in 2011, slowing somewhat aft...
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CindyLou77
Proudly Canadian!]
05:06 PM on 04/27/2012
Saskatchewan...the Saudi Arabia of Canada.
HUFFPOST SUPER USER
Filthy
11:36 AM on 04/27/2012
Two guys are walking along when they spot a pile of dog s***t. The first says to the second, "I'll give you a million bucks if you eat that". So the second man scoops it up and eats it. A few minutes later they run across a second pile and this time the second man, flush with cash, says I'll give you a million bucks if you eat that, and the first man quickly complies and collects his million bucks. An hour later the second man, having finally assessed his changing fortune, laments that they both ate a pile of s**t and neither of them are further ahead financially. The first man (who incidentally had a degree in economics) replied "don't be foolish, we just contributed a million dollars worth of growth in GDP"
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10:10 AM on 04/27/2012
Canadian growth, brought to you by Exxon.
10:09 AM on 04/27/2012
Sounds better than Ontario, who with their wind investments might end up like Spain
http://www.bbc.co.uk/news/business-17866382
HUFFPOST SUPER USER
Filthy
12:28 PM on 04/27/2012
Ontario's economic growth rate was identical to the United States growth rate for the same interval. Alberta's growth rate was solely the result of rising oil prices. And Ontario's growth was fuelled by mining and manufacturing. Their 'wind investments' were targeted specifically at the green energy manufacturing sector. Spain is failing because, like Greece, they have no way to devaluate their currency. If they could, then their exports would be cheaper to other countries, and imports would be more expensive triggering greater domestic production and consumption thereby, eventually returning them to a position of positive GDP. This would then of course alter their debt to GDP ratio, and thereby lower the interest rate that ratings agencies place on debt and deficit loans, in turn making them fiscally sound.

FYI - In actuality people in Spain owe less per capita than people in the US. And, collectively the European Union owes $20,000 per person less than the US. Canada's debt per person and debt to GDP ratio is about 35% lower than the United States.
photo
Nihilicious
Humanist>Realist>Atheist>Nihlist
02:54 PM on 04/27/2012
Great answer. Conservative meet liberal.