Welcome to Alberta sign. (Paulbradyphoto | Dreamstime.com)

By David Opinko/LethbridgeNewsNOW

Mining, quarrying, oil and gas

GDP up 5.1 per cent in Alberta in 2021, slightly outpacing national average

May 5, 2022 | 2:58 PM

Stats Canada is reporting a “rapid recovery” from the COVID-19 pandemic’s economic impacts.

The annual real gross domestic product (GDP) in Canada last year increased by 4.8 per cent.

Nationally, sectors such as public sector services (education, healthcare, and administration) had strong growth, as did construction.

Due to COVID-19 restrictions being lifted in most areas of the country in 2021, retail, food, accommodation, and others that rely on in-person customers were also up.

Every province and territory in the country, with the exception of Saskatchewan, saw at least some growth.

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In Alberta, the GDP grew by 5.1 per cent last year, slightly above the national average. The largest percentage increase was seen in the Yukon, whose GDP went up by 9.1 per cent, while Saskatchewan’s economy retracted by 0.3 per cent.

Mining, quarrying, and oil and gas extraction provided the biggest boost to Alberta’s economy in 2021, rising by 6.3 per cent. This alone resulted in a 1.76 per cent increase in the province’s overall GDP.

There was also a 16.8 per cent increase in residential building construction and a 55.3 per cent rise in renewable energy projects.

Real GDP growth by province and territory in 2021. (Stats Canada)

Top contributing sectors to real GDP changes in Canada’s provinces and territories for 2021. (Stats Canada)