Demographics
Population
- 0.138 million (2004)
- Approximately 75 per cent of the people are of British origin (mainly Scottish and Irish); while about 20 per cent are of French origin.
- Has a young population, with over 35 per cent of the people under the age of 25.
Total labour force (000s), 2004: 76.5
Employment by industry (000s), 2004
| Trade |
10.7 |
| Health care and social assistance |
7.7 |
| Manufacturing |
7.5 |
Population of major urban centres (000s), 2004
| Charlottetown (capital) |
32.2 |
| Summerside |
14.6 |
| Cornwall |
4.4 |
| Stratford |
5.9 |
Languages (% distribution), Census 2001
| English mother tongue |
92.7 |
| French |
4.3 |
| Speaking both official languages |
11.8 |
Total area: 5,660 km 2
Economy
| Real GDP growth |
4.5% |
| Consumer Price Index inflation |
2.1% |
| Unemployment rate |
11.3% |
Total international trade ($ CDN billions)
| Exports |
0.67 |
| Imports |
0.04 |
Trade and Investment (2004)
International export markets (%)
| United States |
84.3 |
| Japan |
2.1 |
| France |
1.4 |
Top three international exports (%)
| Prep of vegetables |
28.9 |
| Fish |
20.2 |
Prep of meat & fish
|
6.4 |
Top three international imports (%)
| Fertilizers |
62.8 |
| Optical/photo equipment |
11.4 |
| Beverages |
6.9 |
International import suppliers (%)
| United States |
49.1 |
| Russia |
28.6 |
| Egypt |
8.0 |
Business and Investment Environment
- Conveniently located on Canada 's east coast, PEI offers excellent access to the North American and European markets with a sophisticated infrastructure comprising high-speed digital telecommunication network, year-round ports, major air cargo routes and fast, high-bulk land transportation.
- PEI is home to many world-class research and development (R&D;) facilities including the Atlantic Technology Centre, the Atlantic Veterinary College , the University of Prince Edward Island , the National Research Council’s (NRC) Institute for Nutrisciences and Health, the Food Technology Centre and the Institute of Human Health Research .
- Although traditional industries such as tourism and agriculture remain integral to the provincial economy, emerging industries like aerospace, biosciences and information technology are now key driving forces behind PEI ’s economic growth and development.
- Technology PEI is offering a new R&D; funding initiative, comprising a series of programs to promote R&D; and business collaborations for the development of technologically advanced, commercially viable, exportable goods and services. Sectors covered under the initiative are: life sciences/biotech, information technology, advanced manufacturing, environmental technologies and aerospace.
Sectoral Strengths
Food Industry (Agri-food, Seafood, Beverage Processing)
- PEI offers excellent R&D; support and financial incentives to food sector businesses. For instance, the provincially owned Food Technology Centre offers product and process development, food chemistry and microbiology analytical services, nutrition labelling, sensory analysis, and food safety and quality assurance.
Aerospace
- PEI ’s fourth-largest industry and second-largest exporter, accounting for 25 per cent of international exports.
- Aviation-related companies operating in Slemon Park , PEI ’s aerospace business park, receive a full annual rebate on all provincial corporate income taxes.
BioScience
- PEI is internationally recognised for its research expertise and capabilities in: veterinary medicine, aquaculture, human health, crop genetics, diagnostics and bioinformatics.
- Through business expansion, contract research, joint ventures and partnerships, the industry is experiencing rapid growth which is projected to be over 50 per cent annually for the next five years.
Information Technology (IT) and New Media
- PEI ’s IT, film and new media companies are earning global recognition in feature television and animation production, community portal development, technical support services, hosted network services and application development. Major industry players like EDS , Unisys, Kodak, IBM and Compaq have invested in the region.
- To further accelerate growth, PEI is investing strategically in IT infrastructure such as: new smart office and research facilities, advanced broadband networks, industry internship and labour development programs, and export- and trade-oriented initiatives.
Online Resources
Government of Prince Edward Island
www.gov.pe.ca
PEI Business Development
www.peibusinessdevelopment.com
Invest P.E.I.
www.investpei.com
Contacts
In Canada , contact:
International Trade Canada
E-mail: investincanada@international.gc.ca
Internet : www.investincanada.gc.ca
For investment information on P.E.I, contact:
Invest P.E.I
Internet: www.investpei.com
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