The economy of Ontario is diversified. Ontario is the largest economy in Canada, making up around 38% of Canadian GDP.[1][2] Though manufacturing plays an important role in Ontario's economy responsible for 12.6% of Ontario's GDP, the service sector makes up the bulk, 77.9%, of the economy.[3] Ontario's net debt-to-GDP ratio will rise to 40.7% in the year 2019–2020.[4]
Ontario is the most populous province of Canada, with a population of approximately 14.19 million permanent residents in 2017.[5] It is Canada's leading manufacturing province, accounting for 46% of the manufacturing GDP in 2017.[6]
The CPI inflation of the province in 2018 was confirmed to 2.2%, with the unemployment rate at 5.6% as of January 2019. This unemployment rate is based on the 447,400 unemployed people in Ontario.[7][8] As of 2018, the province's credit rating ranged from AA-negative (Moody's) to A+-stable (S&P).[9]
In 2017, Ontario's main international exports were motor vehicles and parts (35.3%), mechanical equipment (10.1%), precious metals and stones (9.8%), electrical machinery (3.9%), and plastic products (3.6%).[10] Ontario's main international imports were motor vehicles parts and accessories (22.6%), mechanical equipment (14.4%), electrical machinery (11.4%), plastic products (3.9%) and pharmaceutical products (3.4%).[10]
Ontario was the leading state/province for attracting foreign direct investment (FDI) in North America in 2013, with $7.23bn. This accounted for more than one-tenth of all FDI in North America. It was also the 4th biggest state for outward FDI, recording $7.74bn.[11]
As of 2017, Ontario is the second fastest-growing provincial economy in Canada, the first being Alberta.[12]
^"Gross domestic product (GDP) at basic prices, by industry, provinces and territories". 2017. Retrieved 17 October 2018.
^"Pie chart, showing percentage share of Canada's GDP by province and territories". Ontario.com. Archived from the original on 13 January 2007. Retrieved 2 February 2007.
^"About Ontario". Ontario.com. Retrieved 28 March 2014.
^"ONTARIO BUDGET 2019" (PDF). Royal Bank of Canada. 11 April 2019. Retrieved 21 September 2019.
^"Canada 2016 Census".
^"Gross domestic product (GDP) at basic prices, by North American Industry Classification System (NAICS), provinces and territories". CANSIM. Retrieved 17 October 2018.
^"Ontario Fact Sheet August 2018". Ontario Ministry of Finance. Retrieved 17 October 2018.
^"Labour market report, January 2019". www.ontario.ca. Retrieved 24 September 2019.
^"Update on Ontario's Credit Rating". Financial Accountability Office of Ontario. Retrieved 23 October 2018.
^ ab"Ontario Fact Sheet March 2017". Ontario.com. Retrieved 18 October 2018.
^"The fDi Report 2014 – North America". fDi Intelligence. Retrieved 11 August 2014.
^"Gross domestic product (GDP) at basic prices, by North American Industry Classification System (NAICS), provinces and territories". CANSIM. Retrieved 18 October 2018.
and 24 Related for: Economy of Ontario information
The economyofOntario is diversified. Ontario is the largest economy in Canada, making up around 38% of Canadian GDP. Though manufacturing plays an important...
Ontario (/ɒnˈtɛərioʊ/ on-TAIR-ee-oh; French: [ɔ̃taʁjo]) is the southernmost province of Canada. Located in Central Canada, Ontario is the country's most...
The economyof Canada is a highly developed mixed economy, with the world's tenth-largest economy as of 2023[update], and a nominal GDP of approximately...
The Ontario Municipal Employees Retirement System (OMERS) is a Canadian public pension fund, headquartered in Toronto, Ontario. OMERS is a defined benefit...
The Ontario Basic Income Pilot Project was a pilot project to provide basic income to 4,000 people in Ontario, Canada. The project followed recommendations...
populous city in Canada and the capital city of the Canadian province ofOntario. With a population of 2,794,356 in 2021, it is the fourth-most populous...
building has been a part of the history ofOntario, Canada for thousands of years. From the hand-crafted birch bark canoes of the indigenous people to...
Assembly on Ontario. Retrieved April 1, 2013. "Jobs, Economy, a Fair Society: Priorities for New Ontario Government". Office of the Premier ofOntario. February...
[ɔtawɑ]) is the capital city of Canada. It is located in the southern portion of the province ofOntario, at the confluence of the Ottawa River and the Rideau...
northeastern Ontario, Canada, located on the Mattagami River. The city is the fourth-largest city in the Northeastern Ontario region with a population of 41,145...
surpassing Ontario for the first time. Quebec's economy has undergone tremendous changes over the last decade. Firmly grounded in the knowledge economy, Quebec...
Ontario International Airport (IATA: ONT, ICAO: KONT, FAA LID: ONT) is an international airport two miles east of downtown Ontario, in San Bernardino County...
rivers. The economy grew based on the settlement ofOntario. During the late 19th century, Toronto became the centre of railways and the supplier of goods to...
Unemployment in Ontario is the measure indicating the number of Ontarians "without work, are available for work, and are actively seeking work". The rate of unemployment...
The economyof Greater Sudbury, Ontario was dominated by the mining industry for much of the city's history. In recent decades, however, the city has diversified...
Poverty in Ontario refers to people living in the province ofOntario, Canada who are deprived of or facing serious challenges in meeting basic needs such...
Labrador Economyof Nova Scotia EconomyofOntarioEconomyof Toronto (city) Economyof Prince Edward Island Economyof Quebec Demographic history of Quebec...
The economyof Israel is a highly developed free-market economy. The prosperity of Israel's advanced economy allows the country to have a sophisticated...
Ontario Real Estate Association (OREA) is a professional association that represents real estate brokers and salespeople who are members ofOntario's...
Sudbury, officially the City of Greater Sudbury, is the largest city in Northern Ontario by population, with a population of 166,004 at the 2021 Canadian...
Southern Ontario is a primary region of the Canadian province ofOntario. It is the most densely populated and southernmost region in Canada, with approximately...
a city in and the seat of Thunder Bay District, Ontario, Canada. It is the most populous municipality in Northwestern Ontario and the second most populous...
Green economy policies in Canada are policies that contribute to transitioning the Canadian economy to a more environmentally sustainable one. The green...