Economy
Newfoundland and Labrador has one of the fastest growing economies in North America. It is a mix of natural resource and emerging technology industries. Our oil and gas sector is the economic engine of the province. Information technology, mining, forestry, tourism, fishery, farming, manufacturing, service and culture industries all thrive here.
Newfoundland and Labrador represents a new frontier of immense opportunity. The province has been leading Canada in Gross Domestic Product (GDP) growth for the last 3 years. This growth is expected to continue over the next 5-10 years as numerous multi-billion dollar resource projects come on stream.
These emerging projects represent a huge change in the economy that will require many new trades people, technicians, professionals and business investment. Potential immigrants should look not only at the major projects themselves for sources of employment and business but might also find entrepreneurial opportunities in niche enterprises or industries.
Check the Department of Finance's Economic and Statistics Branch for more detailed information regarding projections for the province.
