This annual economic forecast for the province of British Columbia examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.
Provincial Outlook Long-Term Economic Forecast: British Columbia—2018
Provincial Outlook Long-Term Economic Forecast: British Columbia—2018
Provincial Economic Analysis
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- Growth in the B.C. economy will slow down over the long term due mainly to an aging population, which will cut into the growth of B.C.’s labour force.
- By 2040, 27.0 per cent of B.C.’s population will be aged 65 or over.
- The forestry sector will continue to suffer from the mountain pine beetle infestation and the ongoing dispute with the U.S. concerning exports of softwood lumber.
- Construction of liquid natural gas facilities in B.C. is in jeopardy due to low natural gas prices and environmental issues.
- Weaker commodity prices over the long term will constrain activity in the mining sector.
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