shockedcanadian
Diamond Member
- Aug 6, 2012
- 43,742
- 42,783
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More provinces in decline. We actually had provincial Premiers from Ontario, Sask and Alberta signing agreements to trade with one another. That is considered "progress" in Canada, to trade amongst ourselves.
Americans, do you understand what you are supporting?
Trump is just going to sit back and wait it out while making deals with other nations. The irony of our "wait it out" strategy is for Trump to replicate it and Canada will fall further behind and be forced to pay even higher tariffs.
www.bcbc.com
The latest GDP growth by industry data released by Statistics Canada offers a sobering picture of B.C.’s economic health.[1] Adjusted for population, the provincial economy has shrunk over the past two years (Figure 1). Real output (gross domestic product, GDP) per capita fell by 1.8% in 2024 – the second-worst performance among the provinces – following a decrease of 0.8% in 2023. In layman’s terms, falling GDP per capita means B.C.’s households and businesses are generating less total income, per head of population, that they were in 2022. The “economic pie” is shrinking.
By comparison, over the longer term (1997-2024), B.C.’s real GDP per capita has grown at a compound annual growth rate (CAGR) of +1.3% per annum.[2] In other words, B.C.’s population-adjusted economic growth over 2023-24 was around 2-3% per annum below its historical average.
B.C.’s performance looks somewhat more favourable when considering the past five years rather than the past two. Real GDP per capita growth averaged +0.2% per annum over 2019-24, still a paltry figure by historical standards, but better than most other provinces. B.C.’s relative outperformance in part reflects a multi-year lift from four once-in-a-generation mega capital projects: Trans Mountain, Site C, LNG Canada, and Coastal Gas Link. However, as those projects started to wind down after 2022, B.C.’s economy has tanked. This is largely because of a lack of strength across the private sector to fill the post-mega-project void.
Americans, do you understand what you are supporting?
Trump is just going to sit back and wait it out while making deals with other nations. The irony of our "wait it out" strategy is for Trump to replicate it and Canada will fall further behind and be forced to pay even higher tariffs.
B.C.’s bleak economic performance and outlook — Business Council of British Columbia
The latest GDP growth by industry data released by Statistics Canada offers a sobering picture of B.C.’s economic health. [1] Adjusted for population, the provincial economy has shrunk over the past two years ( Figure 1 ). Real output (gross domestic product, GDP) per capita fell by 1.8% in 2024
www.bcbc.com
The latest GDP growth by industry data released by Statistics Canada offers a sobering picture of B.C.’s economic health.[1] Adjusted for population, the provincial economy has shrunk over the past two years (Figure 1). Real output (gross domestic product, GDP) per capita fell by 1.8% in 2024 – the second-worst performance among the provinces – following a decrease of 0.8% in 2023. In layman’s terms, falling GDP per capita means B.C.’s households and businesses are generating less total income, per head of population, that they were in 2022. The “economic pie” is shrinking.
By comparison, over the longer term (1997-2024), B.C.’s real GDP per capita has grown at a compound annual growth rate (CAGR) of +1.3% per annum.[2] In other words, B.C.’s population-adjusted economic growth over 2023-24 was around 2-3% per annum below its historical average.
B.C.’s performance looks somewhat more favourable when considering the past five years rather than the past two. Real GDP per capita growth averaged +0.2% per annum over 2019-24, still a paltry figure by historical standards, but better than most other provinces. B.C.’s relative outperformance in part reflects a multi-year lift from four once-in-a-generation mega capital projects: Trans Mountain, Site C, LNG Canada, and Coastal Gas Link. However, as those projects started to wind down after 2022, B.C.’s economy has tanked. This is largely because of a lack of strength across the private sector to fill the post-mega-project void.
