{"id":490481,"date":"2024-08-02T13:01:58","date_gmt":"2024-08-02T17:01:58","guid":{"rendered":"https:\/\/www.investmentexecutive.com\/?p=490481"},"modified":"2024-08-02T15:24:23","modified_gmt":"2024-08-02T19:24:23","slug":"canada-still-a-rocks-and-trees-economy","status":"publish","type":"post","link":"https:\/\/www.investmentexecutive.com\/news\/research-and-markets\/canada-still-a-rocks-and-trees-economy\/","title":{"rendered":"Canada still a rocks and trees economy: NBF"},"content":{"rendered":"<p>While tech gets all the headlines, Canada&#8217;s economy remains reliant on natural resources, says National Bank Financial (NBF).<\/p>\n<p>In a research note, NBF said new data from Statistics Canada showed that natural resources represented their highest share of GDP in a decade. The sector accounted for 12.8% of nominal GDP in 2022, up from just over 9.0% in 2020, its largest share since 2014.<\/p>\n<p>The rising share of GDP came as resource sector output increased across several provinces, led by Alberta and Ontario, which pushed the sector&#8217;s output up by 3.1% on a national basis, StatCan reported.<\/p>\n<p>The data confirm &#8220;the continued importance of this sector to the Canadian economy,&#8221; NBF said.<\/p>\n<p>The firm also noted that Alberta represented 38.2% of the natural resources sector&#8217;s contribution to GDP, with 94% of that coming from the energy sector.<\/p>\n<p>Alberta was followed by Ontario in a distant second place at 15.5%. British Columbia and Quebec accounted for 12.7% each, and Saskatchewan accounted for 11.5%, it noted.<\/p>\n<p>While energy led the growth, the mining and forestry sectors also saw output rise, while real GDP from hunting and fishing was down by 1.0%, StatCan said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Natural resources accounted for largest share of GDP in a decade<\/p>\n","protected":false},"author":147314,"featured_media":490496,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2313,2312],"tags":[2395,2800,2724,2756,2552,2448,2402,2923],"yst_prominent_words":[2234,70530,34484,30145,27270,12545,10925,9899,8118,8038,7170,7071,6733,5114,4747,4147,2237,2235,2233],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/490481"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/147314"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=490481"}],"version-history":[{"count":5,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/490481\/revisions"}],"predecessor-version":[{"id":490513,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/490481\/revisions\/490513"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media\/490496"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=490481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=490481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=490481"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=490481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}