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NWT has Canada's largest drop in GDP

Lyndsay Herman
Northern News Services
Published Monday, November 26, 2012

NORTHWEST TERRITORIES
The NWT saw the largest, and only, drop in gross domestic product in Canada last year, according to initial 2011 estimates released by Statistics Canada last week.

The territory's GDP dropped by 5.1 per cent, as compared to Canada's average increase of 2.6 per cent.

Yukon saw the highest growth with 6.5 per cent followed by Alberta which increased by 5.1 per cent.

Nunavut GDP rose 4.6 per cent in 2011.

In the NWT, government investment in capital investment fell 16.3 per cent, after reaching an all-time high in 2010. Business capital investment fell by 7.8 per cent in the same time period.

Exports for the territory fell by 7.2 per cent, which the NWT Bureau of Statistics report attributes to a decline in diamond production.

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