Statistics // GDP by industry – Canada and provincial

Canada GDP by Industry, February 2025

The following statistics were released from the Economics and Statistics Division on April 30, 2025. For full details from this dataset, click here.

Month-over-month (February vs January 2025)

  • Real Gross Domestic Product (GDP) in Canada fell 0.2% in February 2025 following a gain of 0.4% in January 2025
  • Real GDP in Canada’s goods producing industries fell 0.6% from January to February 2025

  • In February 2025, 12 industries reported lower real GDP compared to the previous month
  • Among broad industries, monthly GDP declines were fastest for management of companies and mining/oil/gas

Year-over-year (February 2025 vs February 2024)

  • The Canadian economy was 1.9% larger in February 2025 when compared to the same month in 2024
  • Real GDP from goods producing industries grew 1.8% as growth in resource industries as well as construction and utilities offset a decline in manufacturing
  • Real GDP from services-producing industries was up 2.0% with gains in most industries
Provincial GDP by Industry 2024 [Preliminary]

The following statistics were released from the Economics and Statistics Division on May 1, 2025. For full details from this dataset, click here.

2024 vs 2023

  • Nova Scotia’s real GDP increased 2.7% in 2024
  • Nationally, real GDP grew by 1.6%
  • All provinces reported rising real GDP in 2024
  • Real GDP from goods industries rose 3.8% in Nova Scotia in 2024
  • Real GDP from goods industries was down 0.1% nationally with declines in four provinces.

Nova Scotia GDP by industry

  • The fastest growing industries in Nova Scotia’s economy in 2024 were construction, transportation/warehousing and manufacturing
  • Based on size as well as change, real estate (including imputed rental GDP from owner-occupied dwellings) made the largest positive contribution to Nova Scotia’s real GDP growth in 2024
    • This was followed by construction, manufacturing, and health care/social assistance (including daycare)

  • Nova Scotia’s utilities real GDP was up for all subsectors, with faster growth for electric power than natural gas or water/sewage
  • Among construction industries, real GDP was up for residential, non-residential, transportation, and electric power construction while there was a decline among oil and gas, communications, and other engineering construction activity

Trends in Nova Scotia real GDP by industry

  • Nova Scotia’s real GDP in construction industries has been led by gains in residential building, transportation construction and repair construction, with recent contributions from non-residential construction
  • Real GDP from engineering construction such as electric power, oil and gas and communications exhibit periodic spikes associated with large projects