Northwest Territories' Profile
Economic Indicators in 2021
- Gross domestic product (GDP): $5.0 billion
- GDP per capita: $108,900
- Population: 45,600
- International merchandise exports and imports: 58.0% of GDP
Economic Activity by Sector in 2022
- Goods: 31.9% of GDP
- Mining, quarrying, and oil and gas extraction: 22.1% of total GDP
- Construction: 7.5% of total GDP
- Services: 68.1% of GDP
- Public administration: 19.0% of total GDP
- Real estate, and rental and leasing: 9.8% of total GDP
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Alexia Lagacé-Roy
Research and Education
Publication No. 2023-512-E
30 November 2023
Northwest Territories' Merchandise Trade
The Northwest Territories' merchandise trade with the world in 2021: $2.9 billion
- Exports: $1.7 billion, a 41.0% increase from 2020
- Imports: $1.1 billion, a 3.2% increase from 2020
Trade surplus in 2021: $602.0 million, an increase from $131.0 million in 2020
Exports in 2021: 0.3% of the total value of Canadian exports, an increase from 0.2% in 2020
Imports in 2021: 0.2% of the total value of Canadian imports, unchanged from 2020
Exports as a percentage of GDP in 2021:
- Northwest Territories – 35.0%, an increase from 29.8% in 2020
- Canada – 25.2%, an increase from 23.5% in 2020
Imports as a percentage of GDP in 2021:
- Northwest Territories – 22.9%, a decrease from 26.6% in 2020
- Canada – 26.0%, a decrease from 26.4% in 2020
Exports in 2022:
- Resource-based goods – 100.0%, an increase from 99.9% in 2021
- Manufactured goods – 0.0%, a decrease from 0.1% in 2021
Highest-valued exports in 2022: Diamonds and scrap aluminum, together accounting for 100.0% of the total value of territorial exports
- Diamonds: $2.1 billion, an increase from $1.7 billion in 2021
- Scrap aluminum: $223,500, an increase from $201,500 in 2021
Major export destinations, by region, in 2022:
- Europe, at 74.0% of the total value of exports
- Africa, at 17.0% of the total value of exports
- Asia, at 8.9% of the total value of exports
Major export destinations, by country, in 2022:
- Belgium, at $1.6 billion
- Botswana, at $361.9 million
- India, at $189.0 million
Northwest Territories' Services Trade
The Northwest Territories' services trade with the world in 2021: $331 million
- Exports: $85 million, a 4.9% increase from 2020
- Imports: $246 million, a 20.6% increase from 2020
Trade deficit in 2021: $161 million, an increase from $123 million in 2020