Atlantic Canada GDP Underperforms National Average; Panel Calls for Economic…
What happened
A report released by the Atlantic Economic Panel stated that Atlantic Canada's gross domestic product has underperformed the national GDP by one per cent a year for three decades. The panel recommends structural changes to boost the region's economic output above the national average by 2035.
From bnnbloomberg.ca
Why it matters
The panel attributes the underperformance to low productivity, labor shortages, and complex regulations and trade barriers that prevent businesses from being nimble. These factors suggest challenges to regional economic growth compared to other parts of Canada.
Activity in Nova Scotia and Atlantic Canada contributes to the regional resource base and the national economy.
From bnnbloomberg.ca
Who's involved
- Atlantic CanadaThe geopolitical region whose economic performance is being analyzed.
- Nova ScotiaA constituent province within the broader Atlantic Canada region.
- Government of CanadaProvides financial and programmatic support to Atlantic Canada through infrastructure and development initiatives.
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The entities involved
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Atlantic Canada
four provinces of Canada on the Atlantic Ocean