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Overview: Economic Highlights
The most distinctive characteristic of Manitoba’s $37 billion economy is its high degree of diversification.
 Quotes on MB's Economy MB Budget 2007 Budget 2006 Economic Highlights 
Manitoba's largest industry - manufacturing - accounts for about 12% of the province's GDP, and the province's primary industries - mining, agriculture and forestry - together account for about 7%. Manitoba has a thriving service sector, with head offices for Canada's largest insurance company, largest mutual fund distributor, and largest integrated media company. Canada's only agricultural commodity exchange is located in Winnipeg, making the city the centre of Canada's grain trade. The province is also a major North American transportation hub.
The province's industries are themselves well diversified. For example, within manufacturing, processed foods and transportation equipment represent about 39% of shipments, with the remainder of industry shipments comprised of machinery, wood products, chemicals, fabricated metal products, plastics, furniture, printing, clothing and electrical products. Similarly, agricultural output is approximately equally divided between crops and livestock.
Manitoba's high degree of economic diversification provides exceptional economic stability, as cyclical events in any individual industry are typically offset by other industries. The result has been that Manitoba's economy is one of the most stable in Canada.
Economic Indicators |
2002 |
2003 |
2004 |
2005 |
2006 |
Real GDP (mkt prices) % growth |
1.7 |
1.4 |
2.5 |
2.8 |
3.1 |
Real GDP per Capita (mkt prices) $ |
29,091 |
29,330 |
29,846 |
30,574 |
31,423 |
Employed (thousands) |
567 |
570 |
577 |
580 |
587 |
Unemployment Rate (%) |
5.1 |
5.0 |
5.3 |
4.8 |
4.3 |
CPI, All Items (1992 =100) |
123.1 |
125.3 |
127.8 |
131.2 |
133.7 |
Total Private Investment ($ million) |
4,649 |
4,721 |
5,082 |
5,091 |
5,653 |
Manufacturing shipments ($ million) |
11,820 |
12,696 |
13,517 |
13,491 |
14,184 |
Exports ($ million) |
9,404 |
9,194 |
9,594 |
9,679 |
11,332 |
Imports ($ million) |
9,988 |
9,976 |
10,452 |
11,694 |
12,285 |
Major Industries: Agri-food, transportation equipment, resource-based industries, chemicals, machinery & equipment, furniture & building products, paper products, fabricated metal products, plastics, printing, apparel, electronics, information technology & telecommunications, aerospace, farm equipment, electric power generation, health care products, environmental services, tourism/cultural industries.
Major Export Markets (2006): United States, Japan, P.R. of China, Mexico, Hong Kong, Taiwan, Belgium, South Korea, India, United Kingdom
Major Import Markets (2006): United States, P.R. of China , Germany, Mexico, Japan, United Kingdom, Taiwan, Italy, France, Malaysia
Major Export Products (ranked by value, 2006): Agricultural products, base metals, processed foods, vehicles and transport equipment, electrical energy, medicaments, machinery and electrical equipment, wood products, furniture, plastics
Major Import Products (ranked by value, 2006): Machinery, vehicles and transport equipment, vehicle parts, furniture, printed products, chemical products, plastics, data processing equipment, textiles
Agricultural Commodities (ranked by value, 2006): Hogs, cattle, canola, wheat, dairy products, oats, poultry, eggs, barley, flaxseed.
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