Economic growth - the north leads
October 24, 2012
Growth rates in personal income and GDP per capita are higher in the north. Holds true for Alaska and the Canadian territories.
- Alaska’s GDP in 2011 was $51.4 Billion. The state grew at 2.5% in terms of real GDP (5th in the US) according to the US Bureau of Economic Analysis. Alaska’s per capita personal income was $45,700. The state’s population was 722,718 in 2011.
- Yukon’s GDP is $1.8 B. In the past year, Yukon’s real GDP grew by 5.6% in 2011, the second highest rate in Canada. Over the past 10 years Yukon’s growth rate was 4.8%.Yukon’s GDP per capita was $71,085 according to a study conducted by the Centre for the Study of Living Standards. The Yukon’s population was 36,100 in 2011.
- NWT’s GDP was $2.8 B in 2011. In the past year, NWT’s real GDP declined by 5.5%—the lowest rate in Canada.Over the past 10 years NWT’s growth rate was 5.8%.GDP per capita was $101,708, the highest in Canada. The NWT’s population was 43,300 in 2011.
- Nunavut’s GDP was $1.3 B. In the past year, Nunavut’s real GDP grew by 7.7%—the highest in Canada.Over the past 10 years Nunavut’s growth rate was 6.1%. Nunavut’s GDP per capita was $56,811. Nunavut’s population was 33,700 in 2011.
Government expenditures and resource extraction activities form the backbone of the northern economy.
- b)Centre for the Study of Living Standards CSLS Research Report 2012-02 May 2012 see http://www.csls.ca/reports/csls2012-02.pdf