Central 1 Economic Outlook

2014 Central 1 Economic Outlook

I was emailed this report from a client from September 2014 and is a very interesting read for geeks like me!  

Northern British Columbia The North produces about two-thirds of provincial export wealth.

The Lower Mainland, despite being the most populous area of B.C., is overwhelmingly a service centre for resource-rich rural B.C., and predominantly a place of consumption rather than production. On average, the Lower Mainland exported $9,781 per capita in 2001, while Northern exports per capita were valued at $41,223; this is 157% higher than B.C.’s per capita exports, and 321% higher than the per capita exports of the Lower Mainland region of the province.

While significant wealth is derived from natural resources as these commodities move up the value chain, estimates have determined that economic activity in Northern B.C. contributes approximately $11.3 billion, or 6.9%, to the province’s GDP.

Check out page 11 in the attached document.  The economic outlook into 2017 looks promising for GDP and each of the energy sectors.  Check out the growth for support for oil and gas at a whopping 17.1% change (up from 2.8% the previous year)!