Canadian provinces export many products and earn revenue from those export; this post-Will explore each province’s GDP in Canada is one of the world’s rich repositories of minerals and other commodities and is a nation with very low corruption rates, much wealth from the mining and sale of these commodities finds its way into the community. Canada is a big country with a lot of different regions.
Each province has its own unique culture and economy. As a result, some provinces are richer than others, and this list looks at the wealthiest provinces in Canada for 2018. Ontario is the wealthiest province in Canada, with a GDP of $794 billion.
The province is home to Toronto, one of the biggest and most prosperous cities in North America. Other rich provinces include Quebec ($644 billion), Alberta ($368 billion), and British Columbia ($295 billion)
The following factors explain a large part of the gap:
- capital depreciation (particularly large in regions with significant resource-extraction sectors),
- taxes fewer subsidies on production (e.g. business property taxes), products (e.g. GST, PST) and imports,
- the imputed rent on owner-occupied housing, and
- employers’ social contributions (e.g. employers’ part of EI and CPP, employer-provided health plan).
The Richest Provinces In Canada 2018
10. Prince Edward Island
Prince Edward Island is one of eastern Canada’s maritime provinces, off New Brunswick and Nova Scotia in the Gulf of St. Lawrence. The large island is marked by red-sand beaches, lighthouses, and fertile farmland and is renowned for seafood like lobster and mussels. Charlottetown, the capital, is home to Victorian government buildings & the modern Confederation Centre of the Arts, with a theatre and art gallery.
Gross Domestic Product (GDP Million ): 6,321
9. Newfoundland and Labrador
Newfoundland and Labrador form the most easterly province of Canada. On Newfoundland island, the Norse archaeological site L’Anse aux Meadows is the reputed settlement of Viking explorer Leif Erikson. On the Gulf of St Lawrence, Gros Morne National Park has cliffs, waterfalls, and glacial fjords. The southeastern capital city St. John’s is known for the 17th-century Signal Hill citadel, with a hillside walking trail.
Gross Domestic Product (GDP Million): 31,112
8. New Brunswick
New Brunswick is one of eastern Canada’s Maritime provinces. It encompasses rivers, pine forests, mountains and the Bay of Fundy, known for extreme tides and whale-watching. The port city of St. John is home to the New Brunswick Museum, with local artwork dating to the 1800s, and the long-standing St. John City Market’s many food stalls. To the southwest is Reversing Falls, where rapids flow backward at high tide.
Gross Domestic Product (GDP Million): 34,224
7. Nova Scotia
Nova Scotia is one of eastern Canada’s Maritime provinces on the Atlantic. Consisting of a peninsula and offshore islands, it’s home to puffins and seals and popular for water sports like kayaking. The Bay of Fundy, with its famously extreme tides, is a whale-watching destination. Halifax, the capital, dominated by the star-shaped Citadel, is known for its lively waterfront and Victorian-era Public Gardens.
Gross Domestic Product (GDP Million): 41,726
Manitoba is a Canadian province bordered by Ontario to the east and Saskatchewan to the west. Its landscape of lakes and rivers, mountains, forests and prairies stretches from the northern Arctic tundra to Hudson Bay in the east and southern farmland. Much wilderness is protected in more than 80 provincial parks, where hiking, biking, canoeing, camping, and fishing are all popular.
Gross Domestic Product (GDP Million): 67,863
Saskatchewan is a Canadian province that borders the United States to the south. Grassland covers its southern plains, and to the north are the rugged rock of the Canadian Shield plateau, coniferous forests, rivers, and lakes. Regina, the provincial capital, is home to the Royal Saskatchewan Museum, with exhibits on natural history and the people of Canada’s First Nations.
Gross Domestic Product (GDP Million): 75,261
4. British Columbia
British Columbia, Canada’s westernmost province, is defined by its Pacific coastline and mountain ranges. Nature areas like Glacier National Park offer hiking and biking trails and campgrounds. Whistler Blackcomb is a major ski resort that hosted the 2010 Winter Olympics. The scenic Sea-to-Sky Highway links Whistler with Vancouver, a city known for its film industry, at the province’s southern U.S. border.
Gross Domestic Product (GDP Million): 263,706
Alberta is a province in Western Canada. Its landscape encompasses mountains, prairies, desert badlands and vast coniferous forests. It has more than 600 lakes and rich mineral deposits. The Canadian Rocky Mountain Parks have glaciers in the Columbia Icefields in the west. The Waterton Glacier International Peace Park is a biosphere reserve that straddles the southern border with the USA.
Gross Domestic Product (GDP Million): 314,944
Québec is a predominantly French-speaking province in eastern Canada with two vibrant cities in its south, connected by the Chemin du Roy highway along the Saint Lawrence River. The metropolis Montréal is named after Mt. Royal, the triple-peaked hill at its heart. Dating to 1608, Québec City retains its old colonial core, Place Royale, and historic harbour, Vieux Port, now known for its nightlife.
Gross Domestic Product (GDP Million): 314,944
Ontario is a province in east-central Canada that borders the U.S. and the Great Lakes. It’s home to Ottawa, Canada’s capital, known for Parliament Hill’s Victorian architecture and the National Gallery, featuring Canadian and indigenous art. Toronto, Ontario’s capital, is home to the 553m-high CN Tower, with expansive views from its revolving restaurant and High Park, the site of a rare oak savannah habitat.
Gross Domestic Product (GDP Million): 794,835