Immigrating to Canada focuses on the economic conditions of Canada: The latest data from Statistics Canada shows that the economic momentum of Canada has shifted from the east to the west, and from manufacturing to the energy sector.
Statistics Canada released a GDP analysis report for 33 major cities in Canada, revealing that Regina in Saskatchewan is the wealthiest city in the country, with the highest per capita GDP, followed by Calgary and Edmonton in Alberta. The reason is simple: these three cities are located in provinces that produce oil and energy. Even St. John's in Newfoundland and Labrador is wealthier than Toronto in Ontario, jumping from 15th place in 2009 to 5th place now (Toronto ranks 7th), due to its offshore oil production.
The report overall indicates that Canada's economic momentum is shifting from the eastern regions to the west. The proportion of national GDP accounted for by Toronto and Montreal, which previously had the highest GDP, continues to decline. Toronto's share dropped from 19.6% in 2009 to 18.6%, while Montreal's fell from 11.2% to 10.8%. In contrast, western cities are seeing growth: Edmonton's share increased from 3.8% to 4.7%, Calgary's from 4.2% to 5.1%, and Regina and Saskatoon both rose from 0.7% to 0.9%, while Vancouver's share increased from 6.6% to 7%.
Perhaps the proportion of national GDP accounted for by western Canadian cities is still less than that of Toronto and Montreal (mainly due to the larger populations of these two cities), but the rise and fall clearly indicate a development trend. As for the biggest economic loser in Canada, it is Oshawa, a suburb of Toronto, where the per capita GDP plummeted from $37,551 to $28,918, a decrease of 23%. This city is home to the headquarters of General Motors, which nearly faced bankruptcy during the economic recession and financial crisis, highlighting the challenges faced by the manufacturing industry compared to the energy sector.