Measure Description

Edmonton Region Gross Domestic Product measures the overall strength of the region’s economy. It monitors real gross domestic product (GDP) at basic prices for the Edmonton Census Metropolitan Area (CMA) as estimated by the Conference Board of Canada. While the measure provides value as an indicator of overall economic health, it does not capture factors such as economic diversity, equality or environmental impact. As this is a regional measure and impacted by the economy, Edmonton Region Gross Domestic Product is considered an indicator.

Measure Importance

GDP is widely recognized as an important economic indicator of how an economy is doing. GDP growth also impacts the economy. It is a positive feedback loop—strong performance generates investor confidence which impacts investment decisions that contribute to further economic growth.

Historical Data

Edmonton Region GDP

Data source: Conference Board of Canada, Metropolitan Outlook 1, Winter 2017 through the City of Edmonton's Chief Economist

CMA and City GDP Comparison

Data source: City of Edmonton Office of the Chief Economist

Explanation of Performance

According to the Conference Board of Canada, Edmonton’s CMA Gross Domestic Product increased 5.2 percent to $88 billion in 2017. 2016 data has also been modified due to the Conference Board of Canada overestimating the strength of the economy and the negative impact of oil prices during the economic downturn since 2014. These corrections are made two to three times a year to the historical and forecasted numbers.
2017 was the first time GDP increased since 2014. During the 2014 - 2017 period, goods producing sectors (primary and utilities, manufacturing and construction), services, wholesale and retail trade and business services were the hardest hit sectors, but the large public sector output growth in the service sectors remained positive. In 2017, construction in Edmonton was stable with modest improvements in residential activity offsetting a slower pace of activity in the nonresidential sector.

Additional Useful Information

A city-level GDP and corresponding annual growth rate are provided. The methodology used to estimate GDP by the Conference Board of Canada differs from the methodology used by the City of Edmonton’s Office of the Chief Economist. The Office of the Chief Economist uses a market price method to estimate GDP and forecasts a smaller gross value for the Edmonton CMA GDP, which indicates that Edmonton GDP growth was slightly less than Edmonton CMA GDP growth in 2017.

Useful Links

For information about the City's strategic plan, The Way Ahead: