Prince Edward Island's Profile
Economic Indicators in 2021
- Gross domestic product (GDP): $8.6 billion
- GDP per capita: $52,400
- Population: 164,800
- International merchandise exports and imports: 33.5% of GDP
Economic Activity by Sector in 2022
- Goods: 27.3% of GDP
- Manufacturing: 12.0% of total GDP
- Construction: 7.8% of total GDP
- Services: 72.7% of GDP
- Real estate, and rental and leasing: 14.5% of total GDP
- Public administration: 11.9% of total GDP
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Offah Obale
Research and Education
Publication No. 2023-508-E
12 October 2023
Prince Edward Island's Merchandise Trade
Prince Edward Island's merchandise trade with the world in 2021: $2.9 billion
- Exports: $1.4 billion, a 17.8% increase from 2020
- Imports: $1.5 billion, a 14.4% decrease from 2020
Trade deficit in 2021: $191.0 million, an increase from $189.0 million in 2020
Exports in 2021: 0.2% of the total value of Canadian exports, unchanged from 2020
Imports in 2021: 0.2% of the total value of Canadian imports, unchanged from 2020
Exports as a percentage of GDP in 2021:
- Prince Edward Island – 15.6%, an increase from 15.2% in 2020
- Canada – 25.2%, an increase from 23.5% in 2020
Imports as a percentage of GDP in 2021:
- Prince Edward Island – 17.9%, an increase from 17.7% in 2020
- Canada – 26.0%, a decrease from 26.4% in 2020
Exports in 2022:
- Resource-based goods – 15.0%, an increase from 14.4% in 2021
- Manufactured goods – 85.0%, a decrease from 85.6% in 2021
Highest-valued exports in 2022: Frozen potatoes and other frozen vegetables, and crustaceans, together accounting for 36.3% of the total value of provincial exports
- Frozen potatoes and other frozen vegetables: $490.9 million, an increase from $364.6 million in 2021
- Crustaceans: $279.1 million, a decrease from $328.1 million in 2021
Major export destinations, by region, in 2022:
- United States, at 74.4% of the total value of exports
- Europe, at 11.9% of the total value of exports
- Asia, at 7.9% of the total value of exports
Major export destinations, by country, in 2022:
- United States, at $1.6 billion
- France, at $54.2 million
- Belgium, at $46.6 million
Prince Edward Island's Services Trade
Prince Edward Island's services trade with the world in 2021: $828 million
- Exports: $607 million, a 6.5% increase from 2020
- Imports: $221 million, a 20.8% increase from 2020
Trade surplus in 2021: $386 million, a decrease from $387 million in 2020