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P.E.I.’s economic indicators are up

['Lobster fishing']
Lobster fishing

Last year was a good one for P.E.I., according to the Annual Statistical Review.

The review gathers data from various provincial departments, Statistics Canada and the private sector to give a socio-economic snapshot of the Island. The 44th edition of the review was released Wednesday.

It showed the province was up on several fronts, including: manufacturing shipments increased by eight per cent, to a value of $1.79 billion, the value of P.E.I.’s international export of goods rose by five per cent, to reach $1.32 billion and the total value of fish landings in 2017 increased by 20.8 per cent, to $324 million.

“The annual snapshot helps governments and businesses determine how best to deliver the programs and services Islanders depend on,” said Finance Minister Heath MacDonald.

“The review confirms the economy is in great shape as we continue to invest in the areas most important to Islanders,

Other statistics of note include:

– P.E.I.’s population going up 1.7 per cent to 152,021

– Employment increased by 3.1 per cent

– Retail sales increased for the eighth consecutive year, this time 6.3 per cent

– There were 911 housing starts in 2017, which is up 63.6 per cent from 2016.

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