Regional Economics — Summary
The four Western provinces (Manitoba, Saskatchewan, Alberta and British Columbia) contributed $721.8 billion, or 35 per cent of the country’s GDP in 2016. The West has seen the fastest growth of all Canadian regions (see Regional Economics). Much of the development has been resource-based. Heavy investment in Alberta’s oil sands has significantly boosted employment in the province, particularly in the Fort McMurray region and has added billions of dollars in revenues to provincial government coffers. Saskatchewan has been a big beneficiary of excellent farmland and the development of its uranium, potash, shale oil and other resources. A heavy reliance on commodity prices, however, makes these provinces highly vulnerable to depressed world prices for oil and other raw resources.