Trends in the forest sector's contribution to nominal and real GDP. Contributions to nominal GDP is one of the primary indicators used to evaluate the size and health of Canada’s forest sector. Nominal and real GDP vary in that real values are adjusted for inflation whereas nominal values are not. Therefore, real GDP is used to account for differences between years. Footnote 1
Data table
Sources and information
Footnote 1
Sources:
Statistics Canada.
Table 36-10-0434-04: Gross domestic product (GDP) at basic prices, by industry, monthly, industry detail (x 1,000,000).
Statistics Canada.
Table 18-10-0267-01: Industrial product price index, by industry, monthly.
Statistics Canada.
Table 18-10-0268-01: Raw materials price index, monthly.
Statistics Canada.
Table 18-10-0265-01: Industrial product price index, by major product groups, monthly.
Notes:
Real GDP in 2012 constant prices.
Nominal and real GDP vary in that real values are adjusted for inflation whereas nominal values are not. Therefore, real GDP is used to account for differences between time periods (e.g., comparing 2020 and 2021 GDP).
Natural Resources Canada, Canadian Forest Service’s calculations for the latest year’s nominal GDP are based on Statistics Canada’s tables 36-10-0434-04, 18-10-0267-01, 18-10-0268-01 and 18-10-0265-01: GDP in 2012 constant prices and on estimated industry price deflators indexed to 2012.
Data from Statistics Canada’s Natural Resources Satellite Account (NRSA) are a key source of information on the economic contribution of the forest sector in Canada. The NRSA, the result of collaboration between Natural Resources Canada and Statistics Canada, is able to capture economic activity in forest industry segments that have traditionally been difficult to measure, such as wood furniture manufacturing. According to data from the NRSA, the forest sector directly accounted for $39.2 billion to Canada’s nominal GDP (1.7% of total GDP) in 2021.
Return to footnote 1 referrer
