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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
2011
2012
2013
2014
2015
     
Real GDP (mkt prices) % growth
2.8
2.7
2.6
2.2
1.6
     
Real GDP per Capita (mkt prices)  $ 
54,183
55,665
57,122
58,351
59,262
     
Employed (thousands)
612
622
626
627
636
     
Unemployment Rate (%)
5.5
5.3
5.4
5.4
5.6
     
CPI, All Items (2002 =100)
118.4
120.3
123.0
125.3
126.8
     
Total Private Investment ($ million)
4,352.6
4,388.1
4,331.1
5,537.0
4,764.2
     
Manufacturing shipments ($ million)
16,153
16,333
16,742
17,200
16,948
     
Exports ($ million)
11,678
11,362
12,550
13,414
13,715
     
Imports ($ million)
16,203
19,128
19,105
20,355
20,872
     


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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