Industry and Economy in Alberta

The economy of Alberta is one of the strongest in Canada. This fact is due in large part to the growing petroleum industry, as well as technology and agriculture. The Calgary-Edmonton corridor is one of the fastest-growing areas in Canada, and one of the most densely populated. Stretching roughly 250 miles, the population of this corridor constitutes over 70 per cent of the population of the province.

Alberta is the second largest exporter of natural gas in the world, as well as the fourth largest producer worldwide. Also located in this area are the Athabasca Oil Sands, which hold estimated oil reserves of 1.6 trillion barrels. Oil production has helped to make the Albertan city Fort McMurray one of the fastest growing cities in Canada.

Agriculture is another of Alberta’s most important industries. In fact, roughly one third of the province’s land is being used agriculturally, with half being used for livestock and the remaining half growing crops. Products such as canola, barley and wheat are important harvests. In fact, wheat comprises almost $1 billion of the province’s farming economy.

Horses, buffalo and sheep are all animals raised on the prairies of this province. In fact, Alberta’s farmland and climate are ideal for raising cattle, and this is therefore why almost 60 per cent of Canada’s beef is produced in this province.

Lumber and pulp and paper, newsprint; plus a multitude of other lumber products, are harvested from Alberta’s softwood reserves, making this another important industry.

The economy of Alberta has seen rapid growth over the past decade, and this prairie province is showing no signs of slowing down.