Conventional oil and gas production in Canada accounts for around 1.5 percent of the country's total GDP. Between 2010 and 2023, the conventional upstream industry's economic impact has seen a net increase of some five billion Canadian dollars.

Canada's oil sands extraction industry contributes around 38 billion Canadian dollars to the country's GDP. This equates to 1.7 percent of total GDP. Since 2016, contributions by the industry, which is largely based in Alberta, have seen a net increase, rising to their highest value in 2023.

Gross Domestic Product (GDP) at basic prices, by various North American Industry Classification System (NAICS) aggregates, by Industry, volume measures, (dollars x 1,000,000), monthly, 5 most recent time periods.

This statistic shows the distribution of the gross domestic product (GDP) of Alberta in 2022, by industry. In that year, the construction industry accounted for 8.27 percent of the GDP of Alberta.

This statistic shows the Gross Domestic Product (GDP) of Canada in February 2024, distinguished by major industry. In February 2024, the construction industry of Canada contributed about 160.97 billion Canadian dollars to the total Canadian GDP.

The oil and gas sector was Canada's biggest greenhouse gas polluter in 2023, with a share of 31 percent of total emissions. Oil sands operations account for almost half of Canada's oil and gas industry emissions. The transportation sector was Canada's second-highest GHG emitter in 2023, with a share of just over 22 percent of total emissions.

Number of employees by North American Industry Classification System (NAICS) and type of employee, last 5 years.

This statistic shows the gross domestic product (GDP) of Alberta in 2022, by industry. In 2022, the GDP of the construction industry in Alberta was 25 billion chained 2012 Canadian dollars.

This statistic shows the distribution of the gross domestic product (GDP) of Saskatchewan, Canada, in 2022, by industry. In that year, the construction industry accounted for 5.71 percent of the GDP of Saskatchewan.

In 2023, the Canadian province of Newfoundland and Labrador had the highest unemployment rate in Canada. That year, it had a ten percent unemployment rate. In comparison, Québec had the lowest unemployment rate at 4.5 percent.

Nunavut

Nunavut is the largest and most northern province of Canada. Their economy is powered by many industries which include mining, oil, gas, hunting, fishing, and transportation. They have a high amount of mineral resources and many of their jobs come from mining, however, the territory still suffers from a high unemployment rate, which has fluctuated since 2004. The lack of necessary education, skills, and mobility are all factors that play a part in unemployment. Most of the population identifies as Inuit. Their official languages include English, French, and several Inuit languages. The capital is Iqaluit, which is their largest community and only city. The climate in Nunavut is a polar climate due to its high latitude, and as a result, it rarely goes above 50 degrees Fahrenheit.

Unemployment in Canada

The unemployment rate in Canada had been decreasing since 2009, but increased to 9.7 percent in 2020 due to the impact of the coronavirus pandemic. Since 2006, landed immigrants have faced higher unemployment rates compared to those born in Canada. Youth unemployment in Canada has fluctuated since 1998, but has always remained in the double digits. Additionally, the average duration of unemployment in Canada in 2023 was about 17.4 weeks.

The 2025 annual OPEC oil price stood at 78.1 U.S. dollars per barrel, as of February. This would be lower than the 2024 average, which amounted to 79.86 U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2024 fall in prices was the result of weakened demand outlooks, primarily from China.