Economic results

In 2010, the Alberta economy recovered from the global recession and expanded by 3.3%. Alberta leads all provinces in economic growth during the past 20 years, with an average annual GDP growth of 3.1% per year. Private sector forecasts suggest that Alberta is seeing strong economic growth in 2011 and is poised to lead the country again in 2012.

Economic “fast facts”

Even with the recent economic downturn, Alberta continues to lead the nation in employment, exports, and investment. During the 10 years prior to the recession, the economy had experienced rapid growth in various sectors meaning Alberta is well-equipped to continue in its current recovery:

  • Between 2000 and 2010, Alberta's exports of goods and services rose 40%, reaching $86 billion in 2010. A growing number of those exports are manufactured products and services. Although the global recession and the U.S. housing crisis had a profound impact on exports of manufactured goods, they still rose 13% between 2000 and 2010.
  • Alberta has had a rapidly growing manufacturing base. Between 2000 and 2010, manufacturing shipments grew by one-third to $60 billion.
  • More than 430,000 new jobs were created between 2000 and 2010.
  • Alberta’s average unemployment rate in 2010 was the third lowest in Canada at 6.5%.
  • In 2010, investment per capita was $18,930 in Alberta, nearly double the Canadian average of $9,910 per capita.
  • In 2010, the Alberta economy recovered from the global recession and expanded by 3.3%. Alberta leads all provinces in economic growth during the past 20 years, with an average annual GDP growth of 3.1% per year, between 1990 and 2010.
  • Between 2000 and 2010, the industries that recorded the highest economic growth are oil sands, machinery, fabricated metals, construction, retail and wholesale trade, financial services, information services, and professional, scientific and technical services.

Structure of the Alberta economy

Alberta has capitalized on its strengths in agriculture, energy, forestry and industrial products to develop a dynamic and diverse economy.

Date Updated:
RDP-1926