The Territorial Outlook provides the economic and fiscal outlook for each of Canada’s three Northern territories, including output by industry, labour markets, and demographics.
Territorial Outlook January 2010
Territorial Outlook January 2010
Business and Household Indicators
Provincial Economic Analysis
$1,025.00
Nunavut
- Agnico-Eagle’s Meadowbank mine is on track to begin commercial production in the first quarter of 2010, reigniting the mining industry in Nunavut.
- Mineral exploration will recover in line with firmer commodity prices.
- Strong population growth will supply the economy with a larger pool of labour and create increased demand for goods and services.
Northwest Territories
- GDP is expected to bounce back in 2010 with a gain of 1.5 per cent.
- With a large proportion of GDP attributable to the high value-added mining industry, the N.W.T. has Canada’s highest GDP per capita.
- Investment in the territory fell by an estimated 20.6 per cent in 2009 and is expected to drop by 19.1 per cent in 2010.
Yukon
- Yukon’s well-diversified economy has enabled the territory to post solid gains during the last few years.
- Metal mining output is expected to grow by 34.3 per cent in 2010.
- An aging population will put upward pressure on health-care spending over the next 10 years.
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