Led by mining, Nunavut’s industrial gross domestic product (GDP) was the strongest in the country in 2023 with 3.4 per cent growth, according to initial data from Statistics Canada, released May 1.
Mining’s share of Nunavut’s GDP continues to expand, reaching a record high 46.7 per cent in 2023, up significantly from 28.5 per cent in 2019. That represented $1.37 billion for the economy last year, a slight increase from $1.33 billion in 2022.
The next biggest player is public administration — or government — which accounted for 15.5 per cent of GDP, down from 17.1 per cent in 2022.
No other industries reached double digits.
Construction came in at 6.84 per cent of the territory’s GDP.
Healthcare and social assistance was essentially tied with real estate, rental and leasing, both at 6.1 per cent.
Educational services made the list at 4.3 per cent.
Next door in the Northwest Territories, the territorial GDP contracted slightly by 0.1 per cent in 2023, with diamond mining in decline.
The latest GDP reporting is based on initial industrial data at this juncture. A release of final 2023 GDP data — including income and expenditures — is set for November. It will also contain revised estimates for GDP in 2021 and 2022.