According to Statistics Canada, the NWT was the only jurisdiction to experience a decline in gross domestic product (GDP) for 2025.
Statistics Canada says the NWT had the weakest economic performance in 2025, falling by two per cent, while Newfoundland and Labrador experienced the largest growth in GDP among provinces and territories at 3.5 per cent.
The largest drops came in mining, oil and gas extraction industry as it fell by 8.9 per cent in 2025, with GDP for oil and gas extraction and diamond mining falling by 9.5 per cent.
Construction also declined during 2025 by 9.5 per cent after several years of growth. Utilities increased by 5.6 per cent, which had been declining in previous years.
Retail trade was down by 1.8 per cent, wholesale trade dropped by four per cent, and finance and insurance fell by 2.5 per cent.
Notably, professional, scientific and technical services grew by 1.6 per cent, and health care and social assistance increased by 1.2 per cent.
Public administration grew by 0.7 per cent, which Statistics Canada stated was driven primarily by a 3.3 per cent increase in local, municipal and regional public administration.
Agriculture, forestry, fishing and hunting also grew in 2025 by 0.9 per cent.
A decline in goods production for the NWT began with a plateau in 2003, and was followed by a sharp and steady decline in 2007. Conversely, service production has steadily increased in the NWT over that same time period.
Statistics Canada estimates GDP using “chained dollars,” which is a method that adjusts for inflation and allows a more accurate comparison of GDP from different years.
The other territories has just slight growth — Nunavut experienced very minor GDP growth, at just 0.02 per cent, while Yukon saw roughly 0.8 per cent growth in GDP, similar to Quebec.
By Kody Ferron, Local Journalism Initiative Reporter
Original Published on May 06, 2026 at 09:11
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