The 2024 Annual Statistical Review shows that Prince Edward Island had the fastest growing provincial economy in the country again last year, with real GDP increasing by 3.6 per cent. 

PEI has exceeded national growth in nine of the last 10 years.

"Although our economy has remained strong, the uncertainty and noise in the world today can make it hard to confidently make informed decisions. I encourage all decision makers to use the Annual Statistical Review for reliable data. This document provides up-to-date, accurate, and impartial statistics to help identify needs and gaps in our economy and society, and to monitor emerging trends."

 - Finance Minister Jill Burridge.

Notable successes for PEI in 2024 include:

• Population increased by 2.8 per cent to a total of 178,550 as of July 1, 2024
• Employment averaged a new all-time high of 92,500
• Total labour income increased 9.2 per cent to $5.4 billion
• Housing starts increased 48.7 per cent for a total of 1,694, the most starts on PEI since 1973
• International exports increased 7.8 per cent to an all-time high of $2.5 billion
• PEI's Consumer Price Index showed inflation was 1.8 per cent, down from 2.9 per cent in 2023

The Annual Statistical Review gathers data from provincial government departments, the private sector, and Statistics Canada to provide a socio-economic snapshot of PEI and includes over 100 data tables on various topics.

To read the full review, visit Annual Statistical Review. 

Backgrounder : 2024 Annual Statistical Review Highlights