Alberta Real Gross Domestic Product (GDP) for Agri-Food Industries, 2015

 
 
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Agri-Food Statistics Update - Issue No.GDP16-1
Collected from a variety of sources, the Statistics and Data Development Branch monitors statistical indicators of agri-food activity for Alberta. The Agri-Food Statistics Update is designed to provide users with commentary on current issues, trends and new developments related to agriculture and the food and beverage processing industries. Up-to-date statistics are supplemented with informative charts and diagrams. To gauge Alberta’s performance, comparative data and information are often available for Canada and the provinces.

This Update presents an analysis of Alberta’s 2015 Gross Domestic Product (GDP) for agri-food industries (primary agriculture industries and food and beverage manufacturing industries).

GDP is the total unduplicated value of goods and services produced in a region during a given year. GDP of an industry equals the output by the industry minus the value of intermediate inputs that were purchased from other industries, domestic or foreign. This Update presents “real GDP” which provides a measurement of economic performance changing over time, excluding the effects of price changes. An increase in GDP is a sign of a healthy economy while a decline indicates that the economy is not functioning to its full capacity.

Note to Users: The contents of this document may not be used or reproduced without properly accrediting Alberta Agriculture and Forestry, Economics and Competitiveness Branch, Statistics and Data Development Section.


Key Messages

  • As measured by real Gross Domestic Product, Alberta’s economy fell 4.0 per cent to $294.7 billion in 2015, after growing 4.5 per cent in 2014. The downward trend was largely due to lower oil prices which contributed to a decline in support activities for oil and gas extraction, and a decrease in oil and gas engineering construction. This also impacted the construction sector, which fell 16.7 per cent to $29.6 billion.
  • Alberta’s agri-food industries (primary agriculture industries and food and beverage manufacturing industries) remained resilient, generating $5.4 billion in GDP in 2015 (practically unchanged from 2014).
  • Food manufacturing industries grew 5.4 per cent to a record $2.4 billion in 2015. This was the third consecutive growth since 2013. However, moderating the 2015 increase were agriculture industries which declined 4.3 per cent to $3.0 billion, largely due to dry conditions in Alberta.
  • Contributing to the latest increase were gains in animal food manufacturing, grain and oilseed milling, miscellaneous food manufacturing, and meat product manufacturing.
Note to Users:

The 2013 to 2015 GDP estimates presented in this Update are sourced from Statistics Canada Provincial and Territorial GDP by Income and by Expenditure Accounts released in May, 2016. Estimates of GDP are available in both real 2007 Chained Dollars and in current dollars.

For a complete copy of this update, please download the attached .pdf.
 
 
 
 
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For more information about the content of this document, contact Jean Marie Uwizeyimana.
This document is maintained by Mary E Nucom.
This information published to the web on June 22, 2016.
Last Reviewed/Revised on May 31, 2017.