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Gross Domestic Product Final Gross Domestic Product

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					                                                                                                             November 4, 2010



                                                   Gross Domestic Product
                                                  Northwest Territories, 2009 Final


Today Statistics Canada released final 2009 estimates of income and expenditure accounts and
Gross Domestic Product (GDP) by industry for Canada, the provinces and territories.

Table 1 shows GDP at market prices in chained (2002) dollars for Canada, the provinces and
territories for 2008 and 2009. Changes in chained dollar GDP estimates only reflect changes in the
quantities of goods and services produced, not their prices.


Table 1        Gross Domestic Product at Market Prices, 2009 and 2008
               Canada, Provinces and Territories
               Millions of chained (2002) dollars
________________________________________________________________________________________________________________________________

                                                                                                                                               Percent
                                                                            2009                                   2008                        Change
                                                                                                                                                   (%)
___________________________________________________________________________________________________________________________________________________________



Canada                                                               1,285,604                              1,318,055                                -2.5

    Northwest Territories                                                  3,162                                  3,561                            -11.2
    Nunavut                                                                1,110                                  1,180                             -5.9
    Yukon                                                                  1,571                                  1,512                              3.9

    British Columbia                                                    161,851                                164,869                               -1.8
    Alberta                                                             178,225                                186,528                               -4.5
    Saskatchewan                                                         39,810                                 41,434                               -3.9
    Manitoba                                                             42,077                                 42,057                                  -
    Ontario                                                             509,421                                528,635                               -3.6

    Quebec                                                              267,477                                268,406                              -0.3
    New Brunswick                                                        23,314                                 23,392                              -0.3
    Nova Scotia                                                          28,931                                 28,969                              -0.1
    Prince Edward Island                                                  4,164                                  4,167                              -0.1
    Newfoundland and Labrador                                            18,119                                 20,186                             -10.2
___________________________________________________________________________________________________________________________________________________________


Notes: ʻ-ʻ means data is zero or too small to be expressed



In 2009, chained GDP for the Northwest Territories fell 11.2%, highest among all provinces and
territories. Newfoundland and Labrador posted the second largest decline with -10.2%. The
recession last year affected most provinces and territories; only Yukon posted an increase in 2009.
GDP for Canada decreased by 2.5% between 2008 and 2009.


2010-024
ISSN-08027-3545
                                                                           -2-


Table 2 shows GDP at market prices in current dollars for Canada, the provinces and territories for
2008 and 2009; this measure of GDP includes the impact of both volume and price changes. In
current dollars, the Northwest Territories economy shrank 17.5% between 2008 and 2009 while the
overall Canadian economy fell 4.5%. Newfoundland and Labrador experienced the largest decline
among provinces and territories, falling 21.2%.


Table 2        Gross Domestic Product at Market Prices, 2009 and 2008
               Canada, Provinces and Territories
               Millions of current dollars
________________________________________________________________________________________________________________________________

                                                                                                                                               Percent
                                                                            2009                                   2008                        Change
                                                                                                                                                   (%)
___________________________________________________________________________________________________________________________________________________________



Canada                                                               1,527,258                              1,599,608                                -4.5
  Northwest Territories                                                    4,124                                  4,997                            -17.5
  Nunavut                                                                  1,506                                  1,521                             -1.0
  Yukon                                                                    2,026                                  1,934                              4.8

  British Columbia                                                      191,006                                197,728                              -3.4
  Alberta                                                               247,184                                291,577                             -15.2
  Saskatchewan                                                           56,553                                 65,425                             -13.6
  Manitoba                                                               50,973                                 51,048                              -0.1
  Ontario                                                               578,183                                584,460                              -1.1

  Quebec                                                                303,747                                302,748                               0.3
  New Brunswick                                                          27,497                                 27,376                               0.4
  Nova Scotia                                                            34,283                                 34,041                               0.7
  Prince Edward Island                                                    4,750                                  4,650                               2.2
  Newfoundland and Labrador                                              24,970                                 31,671                             -21.2
___________________________________________________________________________________________________________________________________________________________




Table 3 shows GDP by industry, measured in chained (2002) dollars. The 18.4% decline in the
diamond mine industry accounted for the majority of the decrease in GDP. The temporary shut
down of two of the diamond mines last year contributed to a 25% decline in carat production in
2009. The construction industry also showed a significant decline between 2008 and 2009, falling
26.0%. Recessionary effects also occurred in other industries that are usually indirectly associated
with resource development. Support activities for mining, oil and gas extraction (which includes
exploration activity) fell by 42.0%, wholesale trade declined by 12.7% while transportation and
warehousing fell by 3.8%.
                                                                           -3-


Table 3        Gross Domestic Product at Basic Prices* by Selected Industry, 2009 and 2008
               Northwest Territories
               Millions of chained (2002) dollars
___________________________________________________________________________________________________________________________________________________________


                                                                                                                                               Percent
                                                                                                 2009                     2008                 Change
                                                                                                                                                   (%)
___________________________________________________________________________________________________________________________________________________________


All industries                                                                               3,094.4                  3,472.7                      -10.9
 Agriculture, forestry, fishing & hunting                                                        20.1                      20.0                      0.5
 Forestry & logging                                                                               0.1                       0.2                    -50.0
 Mining, oil & gas extraction                                                                1,056.6                  1,299.8                      -18.7
   Diamond mining                                                                              910.1                  1,115.5                      -18.4
   Support activities for mining, oil & gas extraction                                          47.2                     81.4                      -42.0
 Construction                                                                                   247.9                    335.1                     -26.0
   Residential building construction                                                             10.9                     11.2                      -2.7
   Non-residential building construction                                                         56.0                     24.3                     130.5
   Transportation engineering construction                                                       28.5                     14.7                      93.9
   Oil & gas engineering construction                                                            62.7                    103.8                     -39.6
   Electric power engineering construction                                                        1.9                      2.1                      -9.5
   Repair construction                                                                           34.4                     34.8                      -1.1
 Utilities                                                                                       57.0                     57.3                      -0.5
 Manufacturing                                                                                    5.6                      7.0                     -20.0
 Wholesale trade                                                                                 67.5                     77.3                     -12.7
 Retail trade                                                                                   113.2                    114.9                      -1.5
 Transportation & warehousing                                                                   224.2                    233.1                       -3.8
    Air, rail, water, scenic & sightseeing, & support activities                                133.7                    139.4                       -4.1
 Information & cultural industries                                                               70.6                     71.1                       -0.7
 Finance & insurance, real estate, etc.                                                         382.1                    384.7                       -0.7
 Professional, scientific & technical services                                                   62.1                     61.9                        0.3
 Administrative & support, waste management, etc.                                                48.8                     47.7                        2.3
 Health care & social assistance                                                                170.3                    168.9                        0.8
 Educational services                                                                           140.7                    139.8                        0.6
 Accommodation & food services                                                                   62.2                     63.8                       -2.5
 Other services (except public administration)                                                   65.9                     66.2                       -0.5
 Public administration                                                                          401.5                    392.5                        2.3
   Defence services                                                                              19.5                     20.4                       -4.4
   Federal government (except defence)                                                          105.7                    103.8                        1.8
   Provincial & territorial public administration                                               227.8                    221.8                        2.7
   Local, municipal & regional public administration                                             48.4                     46.5                        4.1
___________________________________________________________________________________________________________________________________________________________


*Basic prices differ from market prices in their treatment of taxes, less subsidies, on products



Table 4 shows select expenditure-side components of chained (2002) dollar GDP for the Northwest
Territories. In 2009, business gross fixed capital formation (private capital investment) fell by
31.6%, mostly a result of a decrease in investment in non-residential structures. Private investment
was only partially offset by an 85.4% in government gross fixed capital formation. Exports and
imports also decreased, 14.7% and 7.1% respectively, while net exports (exports less imports)
decreased $184 million. Diamonds constitute the largest export by value from the NWT.
                                                                           -4-


Table 4        Select Expenditure-Side Components of GDP Growth, 2009 and 2008
               Northwest Territories
               Millions of chained (2002) dollars
___________________________________________________________________________________________________________________________________________________________


                                                                                                                                               Percent
                                                                            2009                                   2008                        Change
                                                                                                                                                   (%)
___________________________________________________________________________________________________________________________________________________________


Gross Domestic Product (GDP)                                               3,162                                  3,561                            -11.2
 Final domestic demand                                                     3,536                                  3,759                              -5.9
 Personal expenditure                                                      1,241                                  1,240                              0.1
 Net government current expenditure                                        1,210                                  1,179                              2.6
 Government gross fixed capital formation                                    254                                    137                             85.4
 Business gross fixed capital formation                                      832                                  1,216                            -31.6
   Residential structures                                                     45                                     51                            -11.8
   Non-residential structures                                                594                                    909                            -34.7
   Machinery and equipment                                                   187                                    234                            -20.1
 Exports of goods and services                                             2,230                                  2,615                            -14.7
 Deduct: Imports of goods and services                                     2,635                                  2,836                             -7.1
___________________________________________________________________________________________________________________________________________________________




Table 5 shows select income-side components of current dollar GDP for the Northwest Territories.
On a current dollar basis, the 17.5% decrease in 2009 was largely attributable to the 59.4% fall in
corporation profits.



Table 5        Select Income-Side Components of GDP Growth, 2009 and 2008
               Northwest Territories
               Millions of current dollars
___________________________________________________________________________________________________________________________________________________________


                                                                                                                                               Percent
                                                                            2009                                   2008                        Change
                                                                                                                                                   (%)
___________________________________________________________________________________________________________________________________________________________


Gross Domestic Product (GDP)                                               4,124                                  4,997                            -17.5
 Labour Income                                                             2,142                                  2,097                              2.1
 Corporation profits before taxes                                            528                                  1,302                            -59.4
 Interest & misc. investment income                                          201                                    399                            -49.6
 Capital consumption allowances                                              837                                    791                              5.8
___________________________________________________________________________________________________________________________________________________________




The next release of provincial/territorial economic accounts information will include preliminary
2010 estimates by industry and is scheduled to be available in April 2011. Income and expenditure
based estimates for reference year 2010 will be released in November 2011.




More detailed information is available on T-stat, the territorial government's on-line statistical retrieval system,
at www.stats.gov.nt.ca.

				
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