Prince Edward Island’s economy features a mix of traditional resources – agriculture, fishing and tourism – as well as growing industry sectors of food, bioscience and advanced manufacturing.
The economy of Prince Edward Island is traditional and modern, rural and urban. Our economy is successful because people, from every community and sector across our province, are passionate about Prince Edward Island. Creativity, entrepreneurship and hard work are values that are rooted deeply here.
We continue to experience population growth, due in part to increased international immigration. In fact, PEI is the only Atlantic province in which the population is becoming younger.
Key Indicators (from the 2021 Annual Statistical Review)
- Labour income increased by 10.2 per cent
- Lobster landings reached 47.2 million pounds, valued at $370.9 million;
- Retail sales increased by 19 per cent;
- International exports increased by 12.5 percent to reach $1.7 billion.
- 2021 GDP increased by 6.6 per cent (Real GDP By Industry)
- Island population as of July 1, 2021 was 164,318, an increase of 1.9 per cent over 2020 and the highest growth among provinces
- Employment averaged 79,400, an increase of 2,700 over 2020 or 3.5 per cent
- Unemployment rate averaged 9.2 per cent, a decrease of 1.2 percentage points over 2020
- Total labour income increased by 10.2 per cent
- Lobster landings reached 47.2 million pounds, valued at $370.9 million
- The All-Items Consumer Price Index for PEI showed inflation was 5.1 per cent in 2021
- Housing starts totalled 1,267, an increase of 2.2 per cent
- International exports increased by 12.5 percent, to reach $1.7 billion
Cost of living
Residents of Prince Edward Island enjoy a comfortable life, with relatively low costs of living, housing and heating costs. Although rising, housing and real estate costs remain among the lowest in the country. The province has one of the highest home ownership rates in the country.
Job & Career Opportunities
Career opportunities in Prince Edward Island are as diverse as the land we call home.
You can make a difference here. Our people and our companies have many unique stories, but keeping score has never been our thing.