Trade and Invest British Columbia

B.C. Economy Overview

Over the past five years, British Columbia has frequently surpassed the rest of Canada in quarterly economic growth and employment creation.

With 13 per cent of the Canadian population, British Columbia is now the country’s third most populous province, after Ontario and Quebec. Producing about 12 per cent of Canada’s Gross Domestic Product (GDP), British Columbia has a GDP of more than $199 billion.

British Columbia’s economy, as measured by real GDP, is expected to expand 24 per cent between 2008 and 2017. The service sector is forecast to provide most of the impetus for growth, expanding 27 per cent.

Population Highlights

As of January 1, 2011, British Columbia’s population stood at 4,554,085, an increase of 55,295 or 1.2 per cent compared with the previous year.

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Labour Force

In 2010, more than 2.44 million people were in British Columbia’s labour force and the average monthly unemployment rate was recorded at 7.6 per cent.

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Positive Economic Indicators

B.C.’s economy is expected grow moderately over the next year according to B.C.’s independent Economic Forecast Council. On average, the council forecasts B.C.’s GDP growth at 3.3 per cent for this year.

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