Looking out for storage units for rent in the province of Nova Scotia? Look into the listings above and discover the best units for you.Nova Scotia is one of the most important provinces in Canada's economy, boasting a large number of industries that contribute to its Gross Domestic Product (GDP). The primary industries in Nova Scotia are finance and insurance, manufacturing, health care and social assistance, retail trade, construction, and professional, scientific and technical services. These industries are of particular importance to the province, as they account for the majority of its labor force and GDP.
The finance and insurance industry is the largest industry in Nova Scotia, employing over 43,000 people and accounting for $4.4 billion of the province's $64.3 billion GDP in 2019. Manufacturing is the second largest industry in Nova Scotia, employing over 34,000 people and contributing $3.6 billion to the province's GDP. Health care and social assistance is the third largest industry in Nova Scotia, employing more than 30,000 people and contributing $2.2 billion to the province's GDP. Retail trade is the fourth largest industry in Nova Scotia, employing over 26,000 people and contributing $2.2 billion to the province's GDP.
Construction is the fifth largest industry in Nova Scotia, employing over 19,000 people and contributing $1.6 billion to the province's GDP. Professional, scientific and technical services is the sixth largest industry in Nova Scotia, employing over 16,000 people and contributing $1.3 billion to the province's GDP. Other important industries in Nova Scotia include transportation and warehousing, accommodation and food services, educational services, and public administration.
Nova Scotia's industries have been growing steadily in recent years, with the province's GDP increasing by 6.2% in 2021 (https://novascotia.ca/finance/statistics/news.asp?id=18303)
to $51.9 billion. (https://www.wikiwand.com/en/List_of_Canadian_provinces_and_territories_by_gross_domestic_product#GDP_and_per_capita_GDP,_2021)
This marks the fifth consecutive year of growth for the province, and is nearly double the national average of 1.1%. In terms of labor, Nova Scotia's unemployment rate fell to 6.2% in 2022 (https://www.bnnbloomberg.ca/unemployment-rate-in-canada-a-look-at-provinces-and-major-cities-1.1829503)
Overall, Nova Scotia's industries are performing well and are a key driver of the province's economic growth. The province's industries are expected to continue to grow in the future, with Nova Scotia ranked as one of the top 10 provinces in terms of economic growth in 2020. As a result, Nova Scotia is well-positioned to continue to benefit from the economic strength of its industries