Looking for the ideal storage space for rent in Manitoba? Have a look at the listings above and use our custom search features to find the best spot.Manitoba is a province of Canada located in the prairie region of the country. It is the fifth-most populous province of the nation and has a population of 1.3 million people. Manitoba is known for its diverse economy, with its main industries including manufacturing, energy, and agriculture. The province is the 6th-largest contributor to the Canadian economy, accounting for 3.8% of the country's GDP in 2021. (https://www.wikiwand.com/en/List_of_Canadian_provinces_and_territories_by_gross_domestic_product#GDP_and_per_capita_GDP,_2021)
The manufacturing sector is one of Manitoba's most important industries, accounting for about 25% of the provincial GDP. The sector consists of a variety of industries, including food processing, machinery, paper and printing, and chemicals. The food processing industry is the largest part of the manufacturing sector, contributing about 8% of Manitoba's GDP. The machinery industry is the second-largest component of the manufacturing sector, accounting for 5% of the provincial GDP. The paper and printing industry accounts for 4.5% of Manitoba's GDP, while the chemical industry contributes 2%.
The energy sector is another major driver of the provincial economy, contributing approximately 19% of Manitoba's GDP. The sector includes the production of hydroelectricity and natural gas. Hydroelectricity is the largest component of the energy sector, accounting for almost 17% of the provincial GDP. Natural gas production is the second-largest component, contributing 2% of Manitoba's GDP.
Agriculture is another important industry in Manitoba, accounting for 8% of the provincial GDP. The province is home to a wide variety of agricultural activities, including crop production, animal husbandry, and horticulture. Crop production is by far the largest component of the agricultural sector, contributing about 6.5% of the provincial GDP. Animal husbandry and horticulture account for the remaining 1.5% of Manitoba's GDP.
Manitoba has a relatively robust labor force, with an unemployment rate of 4.6% in 2022. The province had an average employment rate of 63.1% in the same year, with a labor force participation rate of 66.1%. (https://www.jobbank.gc.ca/trend-analysis/job-market-reports/manitoba/bulletin)
In terms of economic trends, Manitoba experienced a sharp decline in GDP growth in 2020 due to the COVID-19 pandemic, but the province has seen a steady recovery since then. According to the most recent data, the province's GDP growth rate is reached 4.4% in 2021. (https://www.manitoba.ca/budget2022/fiscally-responsible-outcomes-and-economic-growth-strategy-economic-outlook.html#:~:text=Provincial%20real%20gross%20domestic%20product,rate%20in%20over%20twenty%20years)
In terms of economic rankings, Manitoba is the 11th-highest ranked province in terms of GDP per capita (https://www.wikiwand.com/en/List_of_Canadian_provinces_and_territories_by_gross_domestic_product#GDP_and_per_capita_GDP,_2021)