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Concept
Economy of Quebec
Summary
The economy of Quebec is diversified and post-industrial with an average potential for growth. It is highly integrated with the economies of the rest of Canada and the United States. Manufacturing and service sectors dominate the economy.
The economic heart of Quebec is the Montreal metropolitan area where half of Quebecers live. This region alone accounts for 53.4% of the province's gross domestic product (GDP), followed by the Quebec City metropolitan area (11.4%), Gatineau (3.2%), Sherbrooke (2.2%), Saguenay (1.9%) and Trois-Rivières (1.8%). In total, Quebec's GDP at market prices was CAD 380.9 billion or 19.0% of Canada's GDP.
For the 2022-2023 period, Quebec's budget was C8,9 billion more to the healthcare sector over 5 years. The economy of Quebec represents 20.36% of the total GDP of Canada. Like most industrialized countries, the economy of Quebec is based mainly on the services sector. Quebec's economy has traditionally been fuelled by abundant natural resources, a well-developed infrastructure, and average productivity. The provincial GDP in 2021 was C4.1B or, above the European Union average of 1.
Official source
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