Economy of British Columbia

[13] West of the Lower Mainland across the Strait of Georgia lies Vancouver Island, which encompasses approximately 20% of the population, including Victoria, the provincial capital.

[14] While service-based industries dominate its cities, resource-based sectors—principally forestry, agriculture, natural gas and mining, figure prominently as economic activities in less urbanized areas.

to develop the province's vast natural resources and agricultural potential, ushering a period of rapid economic expansion and population growth.

Major dams were built to support a growing electrical grid and the Trans-Canada Highway was completed, allowing for easier movement of goods and services.

Management and financial activities related to resource development remained in these coastal cities during this time, including Vancouver.

[16] British Columbia has historically been a resource-dominated economy centred on the forest industry, with fluctuating importance in mining, farming and natural gas.

Financial and Economy Review, Government of British Columbia Statistics Canada Table: 36-10-0222-01 Gross domestic product, expenditure-based, provincial, territorial, annual B.C.

An extensive all-weather provincial highway and railway network makes transporting goods and services to North American markets seamless and reliable.

[24] In 2018, the Government of British Columbia launched CleanBC, a plan to reduce emissions, advance the clean tech sector and grow B.C.’s low-carbon economy.

has one of the highest credit ratings among Canadian provinces, reflecting a strong balance sheet and depth and diversity of a fiscally stable economy.

British Columbia is an important hub for goods shipped to and from Asia, and as a result, B.C.’s export markets are more diversified than Canada and other provinces.

FDI enhances the ability of businesses and countries to expand capacity, resulting in more economic activity, more jobs, new sources of tax revenue, and gains in income.

[41] Investments from Asia have increased and now account for 10% of FDI in Canada, significantly weighted in the energy and natural resource sectors.

provincial government promotes exports and FDI through a physical network of trade and investment offices around the world and through digital engagement.

The Province is home to a diverse and skilled workforce, characterized as being: Over the next decade, demand for workers is expected to surpass supply in B.C.

Due to a stable, sustainable economy, British Columbia compares favourably when evaluating key livability statistics.

A temperate climate, cosmopolitan and culturally diverse cities, social stability, high-quality health care and education, and an abundant natural environment result in a quality of life and economic well-being that attract people to B.C.

[citation needed] The Mercer Human Resource Consulting Group's 2019 Quality of Living Survey ranks Vancouver first in North America and third out of 231 cities worldwide.

The province's abundant, clean, and cost-effective hydroelectric power supply offers an environmentally friendly alternative to fossil fuels.

including Ballard Power Systems, Methanex, General Fusion, MineSense, Corvus Energy, Awesense, Carbon Engineering, and Powertech Labs.

has grown into a thriving innovation hotspot, with more than 11,000 tech companies, including Microsoft, Hootsuite, Intel, Samsung, Slack and Salesforce.

is a key player in the global creative economy with industry leaders in digital media, film, television, visual effects, animation and post-production.

Over160 video game development studios including EA (Electronic Arts) and Relic Entertainment (Sega) reside in the province.

Virtual Reality firms, including Microsoft, Cloudhead Games and Archiact, are developing practical tools to enhance education, health care, and other sectors.

British Columbia is alive with scientific innovation and features one of the fastest growing life sciences sectors in Canada, home to approximately 1,300 companies.

Key areas where British Columbia is producing products and services include HIV-AIDS, oncology and genomics fields.

The mining industry continues to grow in environmentally sustainable and socially responsible ways to meet global demand.

In 2017: British Columbia's natural gas resources are estimated at over 2,900 trillion cubic feet of gas-in-place, far exceeding domestic use needs by several hundred years.

The LNG Canada joint venture under development, involving Shell, Petronas, PetroChina, Mitsubishi and KOGAS, based in Kitimat, is the first terminal in B.C.

is at the forefront of marine technology, from establishing one of the world’s first and largest undersea digital observatories to developing deep water submersibles and remotely operated vehicles.

Map of the world showing British Columbia's (B.C.) location on Canada's West Coast
British Columbia's Prime Location on Canada's West Coast
British Columbia's Economic Regions. Map of British Columbia's (B.C.) economic regions with population, major cities, international immigration and net in-migration from Canada.
British Columbia's Economic Regions.
British Columbia's Gross Domestic Product (GDP) by Sector, 2018 British Columbia's (B.C.) Gross Domestic Product by Sector, 2018. Data source from Statistics Canada (Table 36-10-0400-01)
British Columbia's Gross Domestic Product (GDP) by Sector, 2018 British Columbia's (B.C.)
Hour Air Travel Time To And From Vancouver, British Columbia (B.C.) Map showing hour air travel time to and from Vancouver, British Columbia (B.C.) to Mumbia, Beijing, Seoul, Tokyo, Hong Kong, Sydney, San Francisco, Los Angeles, Toronto, New York, London and Frankfurt.
Hour Air Travel Time To And From Vancouver, British Columbia (B.C.)
Sailing Travel Times To and From Vancouver, British Columbia (B.C.) Map and table showing sailing travel times to and from Vancouver and Prince Rupert, British Columbia (B.C) to Yokohama, Hong Kong, Shanghai, Pusan and Channai.
Sailing Travel Times To and From Vancouver, British Columbia (B.C.)
British Columbia's (B.C.) International Export Markets, 2017–2018. British Columbia's (B.C.) International Export Markets, 2017-2018 showing B.C. origin merchandise exports in billions $ CAD. Data source Government of British Columbia, Ministry of Finance
British Columbia's (B.C.) International Export Markets, 2017-2018
British Columbia's Goods and Commodity Exports, 2018. British Columbia's (B.C.) Goods and Commodity Exports, 2018 in millions of dollars CAD.
British Columbia's Goods and Commodity Exports, 2018
Inward Greenfield Foreign Direct Investment Performance Index, Canadian Provinces 2012–16. Table showing Inward Greenfield Foreign Direct Investment Performance Index, Canadian Provinces. Data source the Conference Board of Canda.
Inward Greenfield Foreign Direct Investment Performance Index, Canadian Provinces 2012-16
B.C. Largest Companies 2018. Table ranking the 50 largest companies in British Columbia in 2018 by revenue. Table designed by the B.C. Ministry of Jobs, Trade and Technology. Ranking by BC Business Magazine.
B.C. Largest Companies, 2018