Looking for self storage units for rent in Newfoundland and Labrador? Look at the listings above and find the location that fits your needs.Newfoundland and Labrador is a Canadian province located on the Atlantic Coast of North America. The province is made up of two distinct regions, the island of Newfoundland and the mainland region of Labrador. The main industries of Newfoundland and Labrador are fishing, oil and gas exploration, aluminum smelting, tourism, forestry, and mining.
The fishing industry is one of the largest industries in the province, contributing greatly to the provincial GDP and providing thousands of jobs to the local population. In 2021, the fisheries industry accounted for over $1.4 billion in exports and employed over 17,500 people. The province is well known for its cod, haddock, and shrimp fishing. (https://www.gov.nl.ca/ffa/files/22322-Seafood-Industry-Year-in-Review-2021-Sept-22.pdf)
The energy industry is another major industry in Newfoundland and Labrador. Oil and gas exploration and development have been important economic drivers in the province since the 1960s. The energy sector contributed over $2 billion to the provincial GDP in 2019, while employing over 10,000 people. The province is home to some of the largest oil and gas fields in the world.
The aluminum industry is another major industry in Newfoundland and Labrador. The province is home to the world's second largest aluminum smelter, located in Long Harbour, Newfoundland. The smelter accounts for over $3 billion in exports and employs over 1,500 people.
The tourism industry is also an important sector of the provincial economy. The province's stunning coastline, picturesque landscapes, and variety of outdoor activities make it a popular destination for tourists from around the world. In 2019, tourism in the province accounted for over $1.4 billion in economic activity and employed over 10,000 people.
In terms of economic trends, Newfoundland and Labrador has seen steady growth over the past few years. The provincial GDP grew by 0.9%, 1.3%, and 0.8% in 2017, 2018, and 2019 respectively. This is slightly lower than the national average, but still indicative of healthy economic growth.
In terms of economic rankings, Newfoundland and Labrador ranks 9th out of 13 provinces and territories in terms of GDP and 6th out of 13 in terms of per capita GDP. This puts it slightly below the national average, but still in the middle of the pack. (https://www.wikiwand.com/en/List_of_Canadian_provinces_and_territories_by_gross_domestic_product#GDP_and_per_capita_GDP,_2021)
Overall, Newfoundland and Labrador is an important economic force in Canada. The province's main industries are fishing, oil and gas exploration, aluminum smelting, tourism, forestry, and mining. These industries contribute a great deal to the province's GDP.