Alberta's economy is holding strong, with employment growth of 4%, or nearly 100,000 jobs in 2024 — around double Canada’s national growth rate of 2%, according to Statistic Canada.
Backdrop for the numbers is Alberta's growing population. From April 2023 to April 2024, the population grew by 204,677 or 4.41%.
"Alberta continues to set the pace as the leader in job growth," said Alberta Minister of Jobs, Economy and Trade Matt Jones on X.
Alberta's largest industry by GDP is oil and gas. In 2024, oil and gas exports were expected to rise by just under 5%, providing a strong boost to GDP, indicating the sector's strong contribution to Alberta.
Premier Danielle Smith has been vocal about doubling Alberta's oil and gas production, saying America wants more energy, not less, and that Alberta's resources are critical for U.S. energy security — although recent statements from President Donald Trump are to the contrary.
"I’ve said it before, and I’ll say it again, Alberta can and will double our oil and gas production," said Smith recently.
Alberta gained new oil egress when the Trans Mountain Pipeline expansion opened in 2024 — increasing access to international markets. Also, Smith recently brokered a deal with Enbridge to export more Alberta oil to the U.S.
Based on available data, Alberta's second largest industry by contribution to the provincial economy is real estate, rental, and leasing — contributing around 11.5% to GDP in 2022.
Alberta's tech sector is experiencing significant growth, with a 48.5% five-year growth rate for venture capital invested by the end of 2023, more than triple Canada's compounded average.
Alberta may add significant AI data centres in the coming years.
Agriculture's direct contribution to GDP is around 1.8%. It has a broad impact through exports, employment, and value-added products.