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Prince Edward Island |
Prince Edward Island Facts
Population - 138,000
Cities - Charlottetown
There are 7 towns - Alberton, Cornwall, Georgetown, Kensington, Montague, Souris and Stratford.
Time Zone - Atlantic
Soil - Red, due to iron oxide which rusts on exposure to air
Land Area - 280 km (175 miles) from tip to tip. Total land area 5,656 sq km (2,184 sq mi)
Provincial Bird - Blue Jay
Coat of Arms - Armorial Bearings
Provincial Flower - Lady’s Slipper
Provincial Tree - Red Oak
The PEI tartan was adopted in 1960.
The Island Hymn was written by Lucy Maud Montgomery in the spring of 1908.
Major industries - agriculture, tourism, fisheries
Daily Newspapers - The Guardian, Journal Pioneer |
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Revised 2001-2004 GDP Data
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On November 8, 2005 Statistics Canada released revised Provincial Gross Domestic Product (GDP)
data for the period 2001 to 2004. The P.E.I. GDP at market prices in current dollars was valued at
$4,023 million in 2004. Real GDP, as measured by chained 1997 dollars, on Prince Edward Island
expanded by 1.8 per cent that year. This increase followed growth of 1.5 per cent in 2003 and 5.8 per
cent in 2002. As Table 1 indicates, the national economy grew by 2.9 per cent in constant 1997
dollars in 2004. |
Table 1
REAL GDP GROWTH AND NOMINAL GDP, CANADA AND PROVINCES |
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CHAINED CONSTANT GDP GROWTH(%)
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P.E.I |
-1.1 |
5.8 |
1.5 |
1.8 |
4,023 |
29,152 |
Nova Scotia
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3.2 |
4.2 |
0.9 |
1.4 |
29,879 |
31,854 |
New Brunswick
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1.7 |
4.4 |
1.7 |
2.0 |
22,976 |
30,553 |
Quebec |
1.5 |
2.7 |
2.1 |
2.3 |
265,063 |
35,117 |
Ontario |
1.5 |
3.2 |
1.6 |
2.7 |
517,407 |
41,703 |
Manitoba |
0.8 |
1.9 |
1.8 |
2.3 |
39,990 |
34,179 |
Saskatchewan |
-1.0 |
-0.2 |
3.8 |
3.4 |
39,999 |
40,240 |
Alberta |
1.7 |
2.5 |
3.1 |
4.3 |
187,152 |
58,394 |
British Columbia
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0.6 |
3.5 |
2.7 |
4.0 |
157,241 |
37,421 |
Canada |
1.8 |
3.1 |
2.0 |
2.9 |
1,290,185 |
40,351 |
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In terms of current dollars, GDP at market prices for Prince Edward Island increased by 4.6 per
cent in 2004. Statistics Canada reported that personal income on Prince Edward Island rose by 4.3
per cent that year compared to 2.1 per cent growth in 2003. The value of non-residential construction
fell by 1.0 per cent in 2004, while residential construction increased by 21.3 per cent from the
previous year. Corporation profits increased by 4.5 per cent in 2004 after an increase of 3.9 per
cent a year earlier. The new GDP estimate of $4,023 million for 2004 is somewhat higher than the
$4,000 million that had been reported previously by Statistics Canada.
Statistics Canada also released revised data on P.E.I.’s GDP by Industry in chained 1997 dollars.
This measure provides industry detail of the provincial economy, shown in Table 2. By that
measure Island GDP grew by 2.1 per cent in 2004. The value of the goods-producing sector of the
P.E.I. economy was estimated at $785.3 million in 2004, an increase of 2.1 per cent from 2003.
The agricultural industry fell by 1.9 per cent, while the manufacturing sector increased by 6.6 per
cent in 2004. The fishing industry rose by 2.4 per cent in 2004 after a decline of 5.8 per cent a
year earlier.
In 2004 the service sector formed 74.6 per cent of total GDP and was valued at $2,307.6 million,
2.1 per cent higher than in 2003. In terms of growth in the service sector, most industries showed positive growth in 2004. The largest contributors were Finance, Insurance, Real Estate and
Renting (up $21.2 million or 3.7 per cent) followed by Health Care & Social Assistance (up $16.4
million or 6.2 per cent) and Wholesale & Retail Trade services (up $8.4 million or 2.5 per cent).
The largest declines occurred in the Accommodations and Food Services sector (down by $2.9
million or 2.7 per cent) and Public Administration (down by $2.7 million or 0.7 per cent).
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Table 2
P.E.I GDP BY INDUSTRY (in constant chanied 1997 Dollars) |
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Agriculture |
85.5 |
-29.2 |
130.2 |
52.3 |
122.1 |
-6.2 |
119.8 |
-1.9 |
Fishing |
60.2 |
1.5 |
65.3 |
8.5 |
61.5 |
-5.8 |
63.0 |
2.4 |
Forestry & Logging |
13.4 |
-14.6 |
14.4 |
7.5 |
16.1 |
11.8 |
14.4 |
-10.6 |
Mining |
2.1 |
-44.7 |
2.9 |
38.1 |
2.7 |
-6.9 |
2.3 |
-14.8 |
Manufacturing |
320.4 |
-4.8 |
333.6 |
4.1 |
360.8 |
8.2 |
384.7 |
6.6 |
Construction |
161.4 |
8.5 |
167.0 |
3.5 |
167.7 |
0.4 |
163.4 |
-2.6 |
Utilities |
35.1 |
4.2 |
36.8 |
4.8 |
37.9 |
3.0 |
37.7 |
-0.5 |
TOTAL GOODS |
678.1 |
-5.6 |
750.2 |
10.6 |
768.8 |
2.5 |
785.3 |
2.1 |
Transportation |
70.6 |
-1.1 |
75.8 |
7.4 |
75.9 |
0.1 |
78.6 |
3.6 |
Information & Culture |
118.5 |
10.0 |
123.9 |
4.6 |
125.4 |
1.2 |
125.4 |
0.0 |
Retail trade |
212.9 |
6.7 |
221.9 |
4.2 |
224.4 |
1.1 |
228.5 |
1.8 |
Wholesale trade |
107.6 |
-3.8 |
112.0 |
4.1 |
113.6 |
1.4 |
117.9 |
3.8 |
Fin., Insur. & Real Est. |
542.1 |
2.2 |
569.1 |
5.0 |
578.8 |
1.7 |
600.0 |
3.7 |
Admin. & Support Serv |
34.0 |
5.3 |
40.0 |
17.6 |
41.3 |
3.3 |
41.9 |
1.5 |
Profess. Scient. Techn. |
60.9 |
2.2 |
61.6 |
1.1 |
63.7 |
3.4 |
64.4 |
1.1 |
Public Administration |
369.9 |
-0.9 |
380.6 |
2.9 |
384.3 |
1.0 |
381.6 |
-0.7 |
Educational Services |
170.2 |
0.4 |
174.8 |
2.7 |
179.8 |
2.9 |
183.3 |
1.9 |
Health & Soc. Services |
240.6 |
1.3 |
249.4 |
3.7 |
262.9 |
5.4 |
279.3 |
6.2 |
Accomm., Food, Bvgs |
102.5 |
1.6 |
103.4 |
0.9 |
107.5 |
4.0 |
104.6 |
-2.7 |
Arts, Entert. & Recreat. |
27.1 |
17.3 |
28.5 |
5.2 |
29.7 |
4.2 |
29.4 |
-1.0 |
Other Services |
76.7 |
0.9 |
80.1 |
4.4 |
79.7 |
-0.5 |
79.7 |
0.0 |
TOTAL SERVICES |
2,123.9 |
1.6 |
2,217.4 |
4.4 |
2,260.5 |
1.9 |
2,307.6 |
2.1 |
ALL INDUSTRIES |
2,802.0 |
-0.2 |
2,967.6 |
5.9 |
3,029.3 |
2.1 |
3,092.9 |
2.1 |
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