New Brunswick's Profile
Economic Indicators in 2021
- Gross domestic product (GDP): $42.6 billion
- GDP per capita: $53,900
- Population: 790,400
- International merchandise exports and imports: 79.9% of GDP
Economic Activity by Sector in 2022
- Goods: 26.3% of GDP
- Manufacturing: 10.9% of total GDP
- Construction: 7.5% of total GDP
- Services: 73.7% of GDP
- Real estate, and rental and leasing: 12.7% of total GDP
- Public administration: 11.6% of total GDP
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Offah Obale
Research and Education
Publication No. 2023-506-E
16 October 2023
New Brunswick's Merchandise Trade
New Brunswick's merchandise trade with the world in 2021: $34.1 billion
- Exports: $15.1 billion, a 43.2% increase from 2020
- Imports: $19.0 billion, a 24.7% increase from 2020
Trade deficit in 2021: $3.9 billion, a decrease from $4.7 billion in 2020
Exports in 2021: 2.4% of the total value of Canadian exports, an increase from 2.0% in 2020
Imports in 2021: 2.9% of the total value of Canadian imports, an increase from 2.6% in 2020
Exports as a percentage of GDP in 2021:
- New Brunswick – 35.4%, an increase from 28.1% in 2020
- Canada – 25.2%, an increase from 23.5% in 2020
Imports as a percentage of GDP in 2021:
- New Brunswick – 44.6%, an increase from 40.6% in 2020
- Canada – 26.0%, a decrease from 26.4% in 2020
Exports in 2022:
- Resource-based goods – 5.5%, a decrease from 7.2% in 2021
- Manufactured goods – 94.5%, an increase from 92.8% in 2021
Highest-valued exports in 2022: Refined oil and crustaceans, together accounting for 61.5% of the total value of provincial exports
- Refined oil: $10.7 billion, an increase from $7.3 billion in 2021
- Crustaceans: $1.0 billion, a decrease from $1.2 billion in 2021
Major export destinations, by region, in 2022:
- United States, at 93.3% of the total value of exports
- Asia, at 3.6% of the total value of exports
- Europe, at 1.4% of the total value of exports
Major export destinations, by country, in 2022:
- United States, at $17.4 billion
- China, at $209.6 million
- India, at $155.0 million
New Brunswick's Services Trade
New Brunswick's services trade with the world in 2021: $2.8 billion
- Exports: $1.4 billion, a 12.9% increase from 2020
- Imports: $1.4 billion, a 2.7% increase from 2020
Trade surplus in 2021: $28 million, a change from a deficit of $97 million in 2020