Alberta’s Energy and Demographic Prospects to Weaken: Alberta’s Outlook to 2045

This annual economic forecast for the province of Alberta examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.

Document Highlights

Alberta’s economy will experience weaker growth over the long term because of the combination of an aging population and a slowdown in oil production.

The province’s population growth will decline over the long term, but not to the same degree as the rest of Canada.

Oil production is expected to decrease over 2030 to 2045 due to the federal government’s plans to reduce dependence on fossil fuels and ongoing challenges in transporting oil to foreign markets.