Economy, jobs and prices in Prince Edward Island, Canada: official figures
The economy of Prince Edward Island (gross domestic product at market prices) was worth $10.9 billion in 2024, 0.4% of Canada's $3.11 trillion; 4th smallest of 13 provinces and territories. In current prices it was up 7.5% on 2023.
How fast is the economy of Prince Edward Island growing?
After adjusting for inflation (chained 2017 dollars), real GDP in Prince Edward Island grew 3.8% in 2024, against 2.0% for Canada; 2nd fastest-growing of 13 provinces and territories. Over the ten years since 2014 it changed by +35.4%.
Source: Statistics Canada · saved copyDid the economy of Prince Edward Island grow in 2025?
Real GDP at basic prices in Prince Edward Island, from the industry accounts, grew 2.8% in 2025; 2nd fastest-growing of 13 provinces and territories.
Source: Statistics Canada · saved copyWhat is the GDP per capita of Prince Edward Island?
Dividing 2024 GDP by the population on 1 July 2024 (178,869) gives $60,877 of output per resident, against $75,519 for Canada; 3rd lowest of 13 provinces and territories.
Source: Statistics Canada · saved copyHow much do households in Prince Edward Island spend?
Household spending in Prince Edward Island came to $36,787 per resident in 2024 (Canada: $40,837); 2nd lowest of 13 provinces and territories. Final consumption spending by governments was equal to 28.6% of GDP (7th highest share of 13 provinces and territories; Canada: 21.4%).
Source: Statistics Canada · saved copyHow much does Prince Edward Island export?
Exports of goods and services to other countries from Prince Edward Island were worth $2.7 billion in 2024, equal to 25.1% of its GDP; 5th lowest share of 13 provinces and territories. Exports to other provinces and territories came to $2.4 billion.
Source: Statistics Canada · saved copyWhat are the main industries in Prince Edward Island?
In 2022, the largest industry in Prince Edward Island's economy was real estate and rental and leasing (14.9% of GDP at basic prices), followed by manufacturing (12.1%) and public administration (11.7%). The public sector as a whole accounted for 27.9%.
Source: Statistics Canada · saved copyHow important are mining, oil and manufacturing in Prince Edward Island?
Mining, quarrying, and oil and gas extraction made up 0.0% of GDP in Prince Edward Island in 2022 (the lowest of 13 provinces and territories), and manufacturing 12.1% (2nd highest of 13 provinces and territories).
Source: Statistics Canada · saved copyWhat is the unemployment rate in Prince Edward Island?
The unemployment rate in Prince Edward Island was 7.3% in September 2026 (seasonally adjusted), down 2.2 percentage points from 9.5% a year earlier and against 6.5% in September 2024; 3rd highest of 10 provinces. The Canadian rate was 6.5%.
Source: Statistics Canada · saved copyHow many people are employed in Prince Edward Island?
In September 2026, 96,600 people in Prince Edward Island were employed and 7,600 unemployed, out of a labour force of 104,200. Employment was up 3.8% on a year earlier (the fastest growth of 10 provinces; Canada: up 0.5%).
Source: Statistics Canada · saved copyWhat is the average weekly wage in Prince Edward Island?
Employees in Prince Edward Island earned an average of $1,207.99 a week including overtime in July 2026 (seasonally adjusted, preliminary), up 4.1% on a year earlier; the lowest of 13 provinces and territories. The Canadian average was $1,347.14 (up 3.2%).
Source: Statistics Canada · saved copyHow many payroll jobs are there in Prince Edward Island?
Employers in Prince Edward Island had 77,775 employees on their payrolls in July 2026, up 0.5% on a year earlier; 3rd slowest growth of 13 provinces and territories (Canada: up 1.1%).
Source: Statistics Canada · saved copyWhat is the median household income in Prince Edward Island?
The median total income of economic families and people living alone or with non-relatives in Prince Edward Island was $75,300 in 2024, against $86,000 for Canada; 3rd lowest of 13 provinces and territories. In constant 2024 dollars it was up 0.1% on 2023.
Source: Statistics Canada · saved copyWhat is the median after-tax income in Prince Edward Island?
After income tax, the median income of families and unattached individuals in Prince Edward Island was $65,900 in 2024 (Canada: $75,500); 3rd lowest of 13 provinces and territories.
Source: Statistics Canada · saved copyWhat is the median family income in Prince Edward Island?
Economic families of two or more people in Prince Edward Island had a median total income of $110,600 in 2024 (Canada: $125,600); 3rd lowest of 13 provinces and territories.
Source: Statistics Canada · saved copyWhat is the average income in Prince Edward Island?
Average total income of families and unattached individuals in Prince Edward Island was $95,500 in 2024, 26.8% above the median (Canada: average $115,000, 33.7% above the median).
Source: Statistics Canada · saved copyWhat is the inflation rate in Prince Edward Island?
Consumer prices in Prince Edward Island were up 5.7% in the 12 months to September 2026, against 3.1% for Canada and 1.7% in the 12 months to September 2025; 2nd highest of 13 provinces and territories.
Source: Statistics Canada · saved copyHow much have prices risen in Prince Edward Island?
Averaged over 2025, the Consumer Price Index for Prince Edward Island rose 1.4% (Canada: 2.1%); 2nd lowest of 13 provinces and territories. Between 2015 and 2025 prices rose 29.6% in total (Canada: 29.7%).
Source: Statistics Canada · saved copyHow fast are food and housing costs rising in Prince Edward Island?
In the 12 months to September 2026, food prices in Prince Edward Island were up 1.9% (Canada: up 2.2%) and shelter costs, which include rent, mortgage interest and utilities, were up 7.4% (Canada: up 1.8%); shelter inflation was 2nd highest of 12 provinces and territories.
Source: Statistics Canada · saved copyAre transportation costs rising in Prince Edward Island?
Transportation prices, including vehicles, fuel and public transit, were up 12.1% in Prince Edward Island in the 12 months to September 2026 (Canada: up 8.4%).
Source: Statistics Canada · saved copyHow much did housing costs rise in Prince Edward Island in 2025?
Averaged over 2025, shelter costs in Prince Edward Island rose 1.5% (Canada: 3.0%).
Source: Statistics Canada · saved copyHow Prince Edward Island compares with other provinces
Gross domestic product, 2024 (current prices) (2024)
Prince Edward Island ranks 10 of 13, highest first.
| Rank | Region | Gross domestic product, 2024 (current prices) |
|---|---|---|
| 7 | Nova Scotia | $65.3 billion |
| 8 | New Brunswick | $48.3 billion |
| 9 | Newfoundland and Labrador | $42.2 billion |
| 10 | Prince Edward Island | $10.9 billion |
| 11 | Nunavut | $5.7 billion |
| 12 | Northwest Territories | $5.1 billion |
| 13 | Yukon | $4.3 billion |
GDP per resident, 2024 (GDP / population on 1 July) (2024)
Prince Edward Island ranks 11 of 13, highest first.
| Rank | Region | GDP per resident, 2024 (GDP / population on 1 July) |
|---|---|---|
| 7 | British Columbia | $75,821 |
| 8 | Ontario | $74,394 |
| 9 | Quebec | $68,665 |
| 10 | Manitoba | $64,602 |
| 11 | Prince Edward Island | $60,877 |
| 12 | Nova Scotia | $60,481 |
| 13 | New Brunswick | $56,354 |
Real GDP growth, 2024 (chained 2017 dollars) (2024)
Prince Edward Island ranks 2 of 13, highest first.
| Rank | Region | Real GDP growth, 2024 (chained 2017 dollars) |
|---|---|---|
| 1 | Nunavut | 6.9% |
| 2 | Prince Edward Island | 3.8% |
| 3 | Nova Scotia | 3.1% |
| 4 | Alberta | 3.0% |
| 5 | Saskatchewan | 3.0% |
| 6 | New Brunswick | 2.7% |
| 7 | Newfoundland and Labrador | 2.7% |
Real GDP growth at basic prices, 2025 (2025)
Prince Edward Island ranks 2 of 13, highest first.
| Rank | Region | Real GDP growth at basic prices, 2025 |
|---|---|---|
| 1 | Newfoundland and Labrador | 3.5% |
| 2 | Prince Edward Island | 2.8% |
| 3 | Alberta | 2.7% |
| 4 | Nova Scotia | 2.3% |
| 5 | Saskatchewan | 2.2% |
| 6 | British Columbia | 2.0% |
| 7 | New Brunswick | 2.0% |
Unemployment rate, September 2026 (seasonally adjusted) (September 2026)
Prince Edward Island ranks 3 of 10, highest first. Provinces only: territorial estimates are three-month moving averages from a separate survey design.
| Rank | Region | Unemployment rate, September 2026 (seasonally adjusted) |
|---|---|---|
| 1 | Newfoundland and Labrador | 9.1% |
| 2 | New Brunswick | 7.4% |
| 3 | Prince Edward Island | 7.3% |
| 4 | Ontario | 7.0% |
| 5 | British Columbia | 6.4% |
| 6 | Alberta | 6.4% |
| 7 | Nova Scotia | 6.3% |
Labour force participation rate, September 2026 (September 2026)
Prince Edward Island ranks 2 of 10, highest first. Provinces only.
| Rank | Region | Labour force participation rate, September 2026 |
|---|---|---|
| 1 | Alberta | 68.9% |
| 2 | Prince Edward Island | 66.6% |
| 3 | Saskatchewan | 66.5% |
| 4 | Manitoba | 66.4% |
| 5 | Ontario | 64.6% |
| 6 | British Columbia | 64.6% |
| 7 | Quebec | 63.7% |
Average weekly earnings, July 2026 (all employees, seasonally adjusted) (July 2026)
Prince Edward Island ranks 13 of 13, highest first.
| Rank | Region | Average weekly earnings, July 2026 (all employees, seasonally adjusted) |
|---|---|---|
| 7 | Saskatchewan | $1,325.24 |
| 8 | Newfoundland and Labrador | $1,317.98 |
| 9 | Quebec | $1,279.96 |
| 10 | New Brunswick | $1,261.88 |
| 11 | Nova Scotia | $1,228.91 |
| 12 | Manitoba | $1,217.11 |
| 13 | Prince Edward Island | $1,207.99 |
Change in payroll employment, 12 months to July 2026 (July 2026)
Prince Edward Island ranks 11 of 13, highest first.
| Rank | Region | Change in payroll employment, 12 months to July 2026 |
|---|---|---|
| 7 | Newfoundland and Labrador | 1.1% |
| 8 | British Columbia | 1.1% |
| 9 | Nova Scotia | 0.9% |
| 10 | Ontario | 0.9% |
| 11 | Prince Edward Island | 0.5% |
| 12 | Quebec | 0.4% |
| 13 | Northwest Territories | -0.2% |
Median total income, economic families and persons not in an economic family, 2024 (2024)
Prince Edward Island ranks 11 of 13, highest first. In 2024 constant dollars.
| Rank | Region | Median total income, economic families and persons not in an economic family, 2024 |
|---|---|---|
| 7 | Saskatchewan | $85,600 |
| 8 | Manitoba | $81,900 |
| 9 | Quebec | $79,000 |
| 10 | Newfoundland and Labrador | $77,300 |
| 11 | Prince Edward Island | $75,300 |
| 12 | Nova Scotia | $73,500 |
| 13 | New Brunswick | $73,000 |
Median after-tax income, economic families and persons not in an economic family, 2024 (2024)
Prince Edward Island ranks 11 of 13, highest first. In 2024 constant dollars.
| Rank | Region | Median after-tax income, economic families and persons not in an economic family, 2024 |
|---|---|---|
| 7 | Saskatchewan | $75,500 |
| 8 | Manitoba | $72,000 |
| 9 | Quebec | $68,800 |
| 10 | Newfoundland and Labrador | $68,000 |
| 11 | Prince Edward Island | $65,900 |
| 12 | New Brunswick | $65,100 |
| 13 | Nova Scotia | $64,200 |
Median total income of economic families (two or more people), 2024 (2024)
Prince Edward Island ranks 11 of 13, highest first. In 2024 constant dollars.
| Rank | Region | Median total income of economic families (two or more people), 2024 |
|---|---|---|
| 7 | Quebec | $120,800 |
| 8 | Saskatchewan | $120,600 |
| 9 | Manitoba | $113,600 |
| 10 | Newfoundland and Labrador | $112,600 |
| 11 | Prince Edward Island | $110,600 |
| 12 | Nova Scotia | $108,500 |
| 13 | New Brunswick | $105,900 |
Consumer price inflation, 12 months to September 2026 (September 2026)
Prince Edward Island ranks 2 of 13, highest first. Territories: the capital city index (Whitehorse, Yellowknife, Iqaluit).
| Rank | Region | Consumer price inflation, 12 months to September 2026 |
|---|---|---|
| 1 | Yukon | 6.1% |
| 2 | Prince Edward Island | 5.7% |
| 3 | Nova Scotia | 5.6% |
| 4 | New Brunswick | 5.0% |
| 5 | Newfoundland and Labrador | 4.7% |
| 6 | Northwest Territories | 4.7% |
| 7 | Manitoba | 4.4% |
Consumer price inflation, 2025 annual average (2025)
Prince Edward Island ranks 12 of 13, highest first. Territories: the capital city index (Whitehorse, Yellowknife, Iqaluit).
| Rank | Region | Consumer price inflation, 2025 annual average |
|---|---|---|
| 7 | Nova Scotia | 2.1% |
| 8 | Alberta | 2.0% |
| 9 | Ontario | 1.9% |
| 10 | New Brunswick | 1.7% |
| 11 | Newfoundland and Labrador | 1.4% |
| 12 | Prince Edward Island | 1.4% |
| 13 | Nunavut | 0.8% |
Shelter price inflation, 12 months to September 2026 (September 2026)
Prince Edward Island ranks 2 of 12, highest first. Territories: the capital city index (Whitehorse, Yellowknife, Iqaluit).
| Rank | Region | Shelter price inflation, 12 months to September 2026 |
|---|---|---|
| 1 | Nova Scotia | 7.8% |
| 2 | Prince Edward Island | 7.4% |
| 3 | Yukon | 6.8% |
| 4 | Northwest Territories | 6.2% |
| 5 | New Brunswick | 5.4% |
| 6 | Manitoba | 4.6% |
| 7 | Newfoundland and Labrador | 4.5% |
More on Prince Edward Island: overview · health · education and schools · poverty and living standards · government budget · Canada
Sources
- Statistics Canada: Table 11-10-0190-01: Market income, government transfers, total income, income tax and after-tax income by economic family type (Canadian Income Survey; Web Data Service extract), read 23 October 2026 · saved copy (SHA-256 d77937164295…)
- Statistics Canada: Table 18-10-0004-01: Consumer Price Index, monthly, not seasonally adjusted (Web Data Service extract: all-items, food, shelter, transportation), read 23 October 2026 · saved copy (SHA-256 a99a4ffcbbea…)
- Statistics Canada: Table 18-10-0005-01: Consumer Price Index, annual average, not seasonally adjusted (Web Data Service extract), read 23 October 2026 · saved copy (SHA-256 5e17cf9acf05…)
- Statistics Canada: Table 36-10-0222-01: Gross domestic product, expenditure-based, provincial and territorial, annual (x 1,000,000), read 23 October 2026 · saved copy (SHA-256 438e0832790b…)
- Statistics Canada: Table 36-10-0711-01: Gross domestic product (GDP) at basic prices, by industry, provinces and territories (Web Data Service extract: all industries and sectors), read 23 October 2026 · saved copy (SHA-256 c16d19ffb999…)
- Statistics Canada: Table 14-10-0287-01: Labour force characteristics, monthly, seasonally adjusted (Web Data Service extract: provinces, 15 years and over), read 23 October 2026 · saved copy (SHA-256 4f433c7e7221…)
- Statistics Canada: Table 14-10-0223-01: Employment and average weekly earnings (including overtime) for all employees by province and territory, monthly, seasonally adjusted (Web Data Service extract: industrial aggregate excluding unclassified businesses), read 23 October 2026 · saved copy (SHA-256 fd47541913f5…)
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