Attractive Economy
Alberta has one of the world's most vibrant and competitive economies. We are heralded as Canada's most promising investment location and renowned for our entrepreneurial spirit.
Current Economic Performance
Alberta's economic performance demonstrates just how much an educated and entrepreneurial culture can achieve. The province's thriving economy has translated into a healthy job market, record business creation, and strong growth in exports and capital investment. This, combined with Alberta's exceptional standard of living, draws thousands of people to the province each year.
For more information and statistics about Alberta's current economic performance, see:
- Alberta Economic Results
- Alberta's Weekly Economic Highlights
- Highlights of the Alberta Economy
- Monthly Economic Review
Economic Outlook
In 2006, Alberta had the had fastest growing provincial economy in Canada, with gross domestic product growth of 6.8%. Economic gains were widespread with construction, manufacturing, and the wholesale and retail trade sectors experiencing strong growth. The strong economy created more than 86,300 jobs and the province continued to have the lowest unemployment rate in Canada. Over the same period, Alberta led all other provinces in growth in population, retail sales, housing starts and investment per capita. In 2007, Alberta's economy is expected to grow by 4.3% (Consensus Forecast).
Statistics Canada Study: The Alberta economic juggernaut
According to a September 2006 Statistics Canada news release, "Alberta is in the midst of the strongest period of economic growth ever recorded by any Canadian province".
For more information on economic forecasts, please refer to:
Employment
In 2006, Alberta had the lowest unemployment rate in Canada at 3.4%. Alberta also had the highest labour force participation rate among the provinces at 73.4%, 6.2% higher than the national average.
For more information and statistics on employment in Alberta refer to:
Investment
The province consistently has the highest investment per capita among provinces.
In 2006, Alberta investment per capita was $22,296, compared to the Canadian average of $9,113. A total of $75.3 billion was invested in 2006. In 2007 total investment is expected to reach $79.2 billion.
In 2006, a record 48,207 new businesses were created in Alberta, up 19.5% from 2005 and almost double the 1995 level.
For more information about Alberta's investment climate, see:
Natural Resources
Alberta has capitalized on its traditional strengths in resource-based industries, such as agriculture, energy, forestry, and industrial products to develop a dynamic and diverse economy.
For more information about Alberta's natural resources, visit the following Government of Alberta websites:
- Alberta Agriculture, Food and Rural Development
- Alberta Economy, Natural Advantages
- Alberta Energy
- Alberta Environment
- Alberta Sustainable Resource Development
Trade
Alberta's exports of goods and services have almost tripled between 1996 and 2006, to about $90.1 billion. A growing number of these exports are manufactured products and services.
Alberta has a rapidly growing manufacturing base. Between 1996 and 2006, manufacturing shipments almost doubled to $64.4 billion. In 2006, the value of manufacturing shipments climbed by 6.9% from 2005.
For more information on trade in Alberta, refer to:
