Territorial Outlook
Reimagining the Northern Future
Canada’s territories are at the forefront of a global transformation that encompasses geopolitical uncertainty, environmental change, and rapid technological advancement. These forces will influence Canada’s national priorities, shaping the economic trajectory of each territory. Our Territorial Outlook to 2045 highlights the trends, challenges, and opportunities that will define the North over the next two decades.
December 2, 2025 • 5-min read
Page updated: December 2, 2025
Territorial Outlooks to 2045
Northwest Territories
Diamond Mining Out, Metal Mining In
December 2, 2025 • 16-min read
Forthcoming
Winter 2025 Edition
On Guard: Navigating Hostile Neighbours
The territories stand at the coal face in an era of geopolitical upheaval, environmental change, and technological advancement. These forces will shape their future and have consequences that reverberate throughout the nation. Our Territorial Outlook to 2045 explores the key trends, challenges, and opportunities shaping the territorial economies over the next two decades.
March 25, 2025 • 5-min read
About the Series
The only private organization producing regular economic forecasts for Canada’s territories.
The Territorial Outlook provides a comprehensive view of the economic and fiscal trajectory for each of Canada’s three Northern territories—Nunavut, Northwest Territories, and Yukon—over the next 20 years.
Each biannual report highlights the key trends, opportunities, and challenges shaping territorial economies, including the impact of major investment projects in sectors such as mining and construction. It also incorporates long-term forecasts for population, migration, immigration, and demographics, and assesses their implications for labour markets and government spending.
The Territorial Outlook delivers clear insight into growth trajectories across the territories, anticipated diversification beyond extractive industries, barriers to growth and regional constraints, and emerging risks that could influence long-term performance.
Inside each report you’ll find:
- downloadable datasets of key economic indicators, so you can integrate this information directly into your planning, forecasting, or advisory work;
- an extensive forecast of economic data covering the next 20 years, including GDP by industry, employment by industry, and government balances.
The Territorial Outlook is available online from June 2002 onwards.
Methodology
The Territorial Outlook is produced biannually and is grounded in our macroeconometric modelling framework for the territorial economies. The model incorporates a broad range of economic indicators, including measures of output, income, labour, investment, consumption, trade, government finances, and prices.
The forecasting process begins with an update of our historical database using the most recent Statistics Canada estimates. The model is then run using a combination of qualitative and quantitative assumptions that reflect current and expected economic conditions across the territories. The results are reviewed to assess coherence, validate relationships among economic drivers, and interpret emerging trends. The findings are synthesized into the Territorial Outlook, which includes a general overview and dedicated sections covering demographics and labour markets, households and spending, investment, mining, and government developments.
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Questions?
If you have any questions about the Territorial Outlook, or about becoming a subscriber, please contact us.