This annual economic forecast for the province of British Columbia examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.
Provincial Outlook Long-Term Economic Forecast: British Columbia—2017
Provincial Outlook Long-Term Economic Forecast: British Columbia—2017
Provincial Economic Analysis
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- Growth in the B.C. economy will slow down over the long term, due mainly to an aging population.
- The aging of the population will cut into the labour force growth in B.C.
- Population growth in B.C. will be weaker than in most of the other provinces over the long term.
- The share of the population aged 65 and over will reach 27 per cent by 2040.
- The forestry sector will continue to suffer from the effects of the mountain pine beetle infestation and, possibly, a return of the dispute with the U.S concerning exports of softwood lumber.
- Construction of LNG facilities will provide a long-term economic boost although low natural gas prices and environmental issues present important downside risks to our outlook.
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