Alberta Economy

One good reason why residents and immigrants alike choose to work in Alberta is its thriving economy. But what exactly are the factors that made the Alberta economy prosperous?

First of all, the economy of Alberta depends mainly on its oil industries. This resulted from numerous discoveries of oil and gas resources in the area of the province decades ago. Presently, Alberta has almost 90 percent of the crude oil reserves of Canada. Furthermore, the province provides the entire oil-sands and gas requirements of the country. Moreover, the sector which handles the gas and oil industries have managed to respond to the economic problems brought about by unsteady energy prices by reducing operating and production costs. With regard to the key cities where these industries are centered, Edmonton focuses on production while majority of the headquarters of oil companies are situated in Calgary. Given these developments, it is no wonder that Alberta is considered as the energy province of Canada.

Aside from oil industries, agriculture is another major part of the economy in Alberta. This province has one of the most prosperous agricultural industries. It produces approximately 20% of the yearly agricultural output of Canada. This is due to the fact that Alberta has over 20 million hectares of uncultivated and cultivated land that are used for farming and for livestock. In addition, new crops are being produced and wheat, which is the primary product of the agricultural industry, is being maintained. Apart from this, livestock is also abundant in Alberta, with popular products such as its beef.

Lastly, the service-providing sector also plays a key role in the economy of Alberta. This sector gives numerous job opportunities in the field of business and finance, transportation, education, health, and tourism.

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