5.10 – Introduction deck: The Prairie context
Prairie population
- Young – Alberta, Saskatchewan, and Manitoba are the only provinces with an average age under 40 years old (39, 39.6, and 39.3 years respectively).
- Diverse – The Prairies are home to nearly 40% of Canada’s Indigenous population. The region attracted over 22% of Canada’s recent immigrants in 2023.
Industry composition
The top 5 sectors on the Prairies include:
- Mining, quarrying, and oil and gas extraction (16.5%)
- Real estate and rental leasing (11.8%)
- Manufacturing (8.2%)
- Construction (7.7%)
- Health care and social assistance (7.1%)
Trade and exports
In 2023, the Prairies accounted for $246B of Canada’s international goods exports.
- 89% of Prairies exports are concentrated in the United States (82%), China (5%), and Japan (2%).
- Primary/raw materials account for 6 of the top 10 Canadian exports.
Economic impact
With only 18% of Canada’s population, the Prairies account for:
- 23% of Canada’s nominal GDP.
- 28% of Canada’s total capital expenditures.
- 35% of Canada’s international goods exports.
The Prairies are the world’s largest producer of potash, second largest producer of uranium, and fourth largest producer of crude oil. Valued at $126B (2023), crude oil is Canada’s most valuable export.
Alberta
- Nominal GDP: $459B (2022)
- Population: 4.8M (Q2 2024)
- The highest economic output per capita in Canada.
- Oil and gas makes up a significant portion of the economy.
- Home to Canada’s largest wind generating facility and two largest solar facilities.
Saskatchewan
- Nominal GDP: $114B (2022)
- Population: 1.2M (Q2 2024)
- Variable economic growth due to natural resource and agriculture intensity
- Account for the largest share of Canada’s total farm area.
- Home to critical minerals and rare earth elements that are rising in global demand.
Manitoba
- Nominal GDP: $87B (2022)
- Population: 1.5M (Q2 2024)
- Steady growth in times of prosperity and minimal economic decline during recessions.
- One of the cleanest electricity grids in the world, with power generated from hydroelectricity.
- Diversity of exports including medicaments, wheat, seed oils, pork, and canola seeds.