The Economy

The economy relies heavily on resource industries subject to wide fluctuations in world markets. Mining is by far the largest private industrial sector of the NWT economy. Oil and gas exploration and development are also important.

The Aboriginal peoples' traditional subsistence activities - fishing, hunting and trapping - also have an impact on the NWT economy. Sports fishing and big- game hunting play a small role as well. Commercial fishery development in the NWT - freshwater and saltwater - is being encouraged.

Fur harvesting continues to be very important, supplementing the income of many Aboriginal families.

Recently, tourism has become increasingly important. The NWT offers a variety of landscapes of great natural beauty, conducive to fishing, wildlife observation and other outdoor activities. The settling of northern land claims sets the stage for increased economic activity in which all can share and have a voice. However, development, which is welcome and necessary for economic prosperity, will need to be managed so as not to threaten the fragile Arctic ecosystem and the traditional lifestyles of the northern peoples.