The Economy

Nova Scotia's economy is highly diversified, having evolved from resource- based employment to include many types of manufactured goods as well as business and personal services. The resources sector started with the sea and the teeming fish of the Scotian Shelf. The catch is comprised mainly of cod, haddock and pollock, as well as lobsters, scallops and crab. This resource, particularly cod, has been hit by dwindling stocks in recent years, and quotas are affecting those who derive their livelihood from this sector.

For a small province, Nova Scotia has a highly developed forestry sector with four pulp and paper mills and several hundred sawmills.

The mining sector is dominated by thermal and metallurgical coal production of 3.2 million tonnes. The province also produces 7 million tonnes of gypsum, over 70 percent of the Canadian total. Other mining activity includes salt, barite, crushed stone, peat and sand and gravel.

Extensive exploration of offshore oil and gas has been undertaken in the past decade, and in 1991 the first commercial production of oil began near Sable Island.

Nova Scotia has a highly specialized commercial agriculture sector. Dairy is the largest sector, followed by horticultural crops, poultry, eggs, beef cattle and hogs. Export commodities include blueberries, apples and processed fruits, vegetables and juices. Tourism is an important sector in the provincial economy.

Total tourism receipts exceed $1 billion and over 30 000 people are employed in the many aspects of the industry. More than two million people visit the province each year, with almost one quarter of these coming from outside Canada.

The province's physical location has made it well-suited for industry and trade. Harbour facilities, modern highways, air transportation, industrial parks, research and education facilities all contribute to providing a varied and positive climate for business.