Prince Edward Island has maintained its position as Canada’s fastest-growing provincial economy, achieving a 3.6% increase in real GDP during 2024, according to the recently released Annual Statistical Review. This marks the ninth time in a decade that PEI has surpassed national growth rates. Key highlights include a 2.8% population increase to 178,550 residents, record-high employment of 92,500, and a 48.7% surge in housing starts, the highest since 1973. The province also saw international exports reach an unprecedented $2.5 billion while inflation decreased to 1.8% from 2.9% in the previous year.
PEI leads Canada in economic growth for 2024 with a 3.6% GDP increase
