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Overview: Economic Highlights

The most distinctive characteristic of Manitoba's $56 billion economy is its high degree of diversification.

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Overview:  Economy

The most distinctive characteristic of Manitoba’s $59 billion economy is its high degree of diversification. The largest industry – manufacturing – accounts for about 10% of the province’s GDP, and the province’s primary industries – mining, agriculture and forestry – together account for about 8.4%. 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 40% of shipments, with the remainder of industry shipments comprised of machinery, wood products, chemicals, fabricated metal products, plastics, furniture, printing, clothing and electrical products. Agricultural production is similarly diversified, with crops accounting for about 55 per cent and livestock accounting for about 35 per cent.

Manitoba’s competitive operating costs and taxes have made Manitoba one of the least expensive provinces in Canada to do business.  Among representative North American cities, both small and large manufacturers in Brandon and Winnipeg rank at or near the best on start-up costs, net income, overall taxes and return on investment.

Economic Indicators 2012 2013 2014 2015 2016
Real GDP (mkt prices) % growth 2.7 2.8 1.3 1.8 1.9
Real GDP per Capita (mkt prices) $ 44,521 45,216 45,255 45,567 45,626
Employed (thousands) 622 626 627 636 634
Unemployment Rate (%) 5.3 5.4 5.4 5.6 6.1
CPI, All Items (2002 =100) 120.3 123.0 125.3 126.8 128.4
Total Private Investment ($ million) 4,388 4,331 5,537 4,892 4,485
Manufacturing shipments ($ million) 16,333 16,930 17,427 17,158 17,382
Exports ($ million) 11,362 12,550 13,451 13,724 13,481
Imports ($ million) 19,128 19,105 20,368 20,873 19,844

Major Products Exported from Manitoba (2014): Metals and minerals, agricultural products, processed foods, vehicles and transport equipment, machinery and parts, pharmaceuticals, chemicals, electrical energy, plastics, paper products.

Major Products Imported in Manitoba (2014):  Machinery and parts, vehicles and transport equipment, printed products, fabricated metal products, electrical and electronic equipment, chemical products, furniture.

Agricultural Commodities (2014): Canola, hogs, wheat, cattle, dairy products, poultry, oats, eggs, barley, flaxseed.

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