B.C.’s real GDP rose 3.8% in 2010, outpacing a national rise of 3.3%, Statistics Canada announced this morning.
B.C.’s growth follows the province’s decline of 1.8% in 2009.
Driving the provincial GDP growth was strong export demand, which led to growth in forestry, logging and manufactured wood products.
Growth in the mining sector also pushed GDP growth. Mining and oil and gas expansion grew by 33% and coal mining increased by 27% as energy prices strengthened.
The Olympic Winter Games also drove growth in sectors such as performing arts, spectator sports, accommodation and food services.
On the real estate front, construction advanced. But the house resale market retreated, leading to lower sales and output for real estate agents and brokers.
Nationally, Nunavut led the country in GDP growth, increasing 8.9%, while Manitoba and Saskatchewan were at the bottom with increases of 1.4%.
According to Statistics Canada, in most provinces in 2010, construction, mining and gas extraction plus manufacturing spurred goods production to outpace growth in services.
The national 2010 GDP rise of 3.3% compares with 2009's decline of 2.6%.