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Canada Province economic profile
Nova Scotia - Economic Profile
Statistics, economic information and rankings for this Atlantic province
In 2026, the province of Nova Scotia has a population of 1,111,543, having grown an annualized 2.2% over the five years to 2026, which ranks it 5th out of 13 provinces and territories by growth rate. Nova Scotia's gross domestic product (GDP) in 2026 reached $48.0b, with growth of 2.7% over the 5 years to 2026. Businesses in Nova Scotia employed a total of 349,719 people in 2026, with average annual employment growth over the past five years of 3.1%. The top three sectors by total employment are Real Estate & Rental & Leasing in Canada, Public Administration in Canada, Healthcare & Social Assistance in Canada, while the unemployment rate across the province in 2026 was 7.3%.
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Province economic profile
Nova Scotia Economic Overview
$48.0b
Gross province product
1,111,543
Population
58,628
Businesses
Province economic profile
Nova Scotia Industry Trends
Learn about current trends affecting the most significant industries for Nova Scotia's province economy, down to the county level. IBISWorld offers provincial industry research reports across all 13 provinces and territories, including 415 industries in Nova Scotia.
What are Nova Scotia's Largest Industries by Revenue?
The largest industries by revenue in Nova Scotia are Commercial Banking, New Car Dealers and Gasoline & Petroleum Wholesaling, which generated $14.9b, $5.4b and $5.2b in 2026.
| Industry | 2026 revenue | |
|---|---|---|
| 1. | Commercial Banking | $14.9b |
| 2. | New Car Dealers | $5.4b |
| 3. | Gasoline & Petroleum Wholesaling | $5.2b |
| 4. | Hospitals | $4.4b |
| 5. | Gasoline & Petroleum Bulk Stations | $3.8b |
| 6. | Colleges & Universities | $3.2b |
| 7. | Supermarkets & Grocery Stores | $2.8b |
| 8. | Automobile Wholesaling | $2.8b |
| 9. | Life Insurance & Annuities | $2.6b |
| 10. | Petroleum Refining | $2.0b |
Province economic profile
Top Companies in Nova Scotia
Learn about current trends affecting the top companies in Nova Scotia.
Top 10 Companies Headquartered in Nova Scotia by Employment
The largest companies by employment in Nova Scotia are Nova Scotia Health Authority, Dalhousie University and Walmart, which employed 23,400, 6,000 and 4,422 people in 2026.
| Company | 2026 employment | Share of employment | |
|---|---|---|---|
| 1. | Nova Scotia Health Authority | 23,400 | 6.7% |
| 2. | Dalhousie University | 6,000 | 1.7% |
| 3. | Walmart | 4,422 | 1.3% |
| 4. | Mcdonald’s corporation | 4,422 | 1.3% |
| 5. | Jazz Aviation LP | 4,200 | 1.2% |
| 6. | Emera Inc | 2,300 | 0.7% |
| 7. | Clearwater Seafoods | 1,900 | 0.5% |
| 8. | Ntt Data | 800 | 0.2% |
| 9. | Home Depot | 659 | 0.2% |
| 10. | Halifax Water | 600 | 0.2% |
Province economic profile
Nova Scotia Sector Statistics
In Nova Scotia, certain sectors drive a higher share of provincial GDP and employ more workers than others. However, simply looking at raw numbers doesn't always tell the whole story. Factoring in the current year growth percentage, in addition to the annualized growth percentage over the past five years, will give you a deeper understanding of the economic situation.
What is Nova Scotia's GDP by Sector?
The Real Estate & Rental & Leasing in Canada, Public Administration in Canada and Healthcare & Social Assistance in Canada sectors contributed the most to Nova Scotia's GDP in 2026, representing a combined 40.1% of provincial GDP.
GDP trends by sector are an important indicator of which sectors are contributing the most value-add to the provincial economy, in addition to how the provincial economy is evolving over time.
What is Nova Scotia's Employment by Sector?
The Retail Trade, Healthcare & Social Assistance in Canada and Accommodation & Food Services in Canada sectors contributed the most to employment in Nova Scotia in 2026, representing a combined 40.6% of provincial employment.
Employment trends by sector are an important indicator of which sectors are growing or contracting most rapidly relative to the provincial economy as a whole.
| Sector | Employment | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Retail Trade | 57,578 | 0.9% | 1.2% |
| Healthcare & Social Assistance in Canada | 47,521 | 0.8% | 3.0% |
| Accommodation & Food Services in Canada | 36,207 | 1.4% | 8.3% |
| Manufacturing | 35,435 | 3.2% | 0.2% |
| Agriculture, Forestry, Fishing & Hunting in Canada | 24,141 | 0.4% | 1.9% |
| Professional, Scientific & Technical Services in Canada | 22,086 | 1.9% | 4.2% |
| Educational Services | 20,837 | 2.3% | 8.7% |
| Construction | 18,552 | 1.3% | 3.1% |
| Wholesale Trade | 17,425 | -0.1% | 1.1% |
| Finance & Insurance in Canada | 15,372 | -1.0% | -1.5% |
| Transportation & Warehousing in Canada | 14,331 | 1.8% | -1.5% |
| Administration, Business Support & Waste Management Services | 13,321 | 0.0% | 1.9% |
| Information | 6,597 | 1.9% | 2.6% |
| Other Services (except Public Administration) | 6,253 | 2.2% | 2.7% |
| Utilities | 3,957 | 2.4% | 2.7% |
| Real Estate & Rental & Leasing in Canada | 3,321 | 0.2% | 4.2% |
| Arts, Entertainment & Recreation in Canada | 2,587 | 6.5% | 7.6% |
| Mining | 2,450 | 3.0% | -0.9% |
Province economic profile
Nova Scotia Employment Trends
349.7k
Employment
7.3%
Unemployment
What Employment Trends are Impacting Nova Scotia?
The province of Nova Scotia employs 349,719 people in 2026, which ranks it 7th out of 13 provinces and territories. Employment in Nova Scotia has grown at an annualized rate of 2.6% over the five years to 2026, overperforming the national average of 1.6%. Major sectors by employment in Nova Scotia include Retail Trade, Healthcare & Social Assistance in Canada and Accommodation & Food Services in Canada, which employed 57,578, 47,521 and 36,207 people in 2026, respectively. Nova Scotia's unemployment rate is 7.3% in 2026, which ranks it 9th out of 13 provinces and territories. Nova Scotia's unemployment rate has trended downwards at a rate of -3.1% over the five years to 2026, overperforming the Canada economy as a whole.
Employment trends indicate the degree of tightness or slack in labor markets, in addition to the overall strength of an economy. Faster employment growth typically indicates a strong and growing economy, while lower unemployment tends to imply tightness in labor markets.
You can track unemployment trends in Nova Scotia, and compare them to the Canada economy, using the chart below.
$92.5k
Per capita disposable income
What is Nova Scotia's Per Capita Disposable Income?
Per capita disposable income, also known as disposable personal income (DPI), is the amount of money that the average person in an economy has available for spending and saving after accounting for income taxes. Nova Scotia's DPI in 2026 was $92.5k, compared to the Canadian average of $120.6k, which places it 6th out of 13 provinces and territories.
Disposable income is regarded as a key economic indicator as trends in disposable income are indicative of the level of aggregate demand, the state of labor markets and the financial strength of households.
You can track trends in Nova Scotia's per capita disposable income, and compare it to the Canadian average, using the chart below.
Province economic profile
Nova Scotia Construction & Building Trends
$122.4m
Nonresidential construction
$575.3m
Residential construction
10,509
Building permits
What can construction trends tell you about a province’s economy?
In Nova Scotia, non-residential construction was $122.4m in 2026, which ranks it 12th out of 13 provinces and territories. Residential construction was $575.3m in 2026, which places Nova Scotia 12th out of 13 provinces and territories. The number of building permits issued in Nova Scotia in 2026 was 10,509, representing a 5.8% annualized growth rate between 2021 and 2026.
Trends in the construction sector are important because it creates jobs, income and tax revenue for a province. In addition, construction sector activity impacts other sectors in its supply chain, including manufacturing, wholesaling, warehousing, transportation, and real estate, rental and leasing services. Therefore, construction trends are important indicators of the health of an economy.
You can track trends in the number of building permits issued in Nova Scotia, and compare it to trends in the number issued in Canada as a whole, using the chart below.
Province economic profile
Nova Scotia Population Statistics
Which Counties in Nova Scotia have the Largest Populations?
The counties with the highest populations in Nova Scotia are Halifax, Truro and New Glasgow, which had populations of 454,178, 0 and 0 people in 2026.
| Region | 2026 population | Annual growth 2021-26 | Share of population |
|---|---|---|---|
| Halifax | 454.2k | 3.5% | 40.9% |
Province economic profile
Nova Scotia Demographics
In Nova Scotia, 15.0% of the population has a Bachelors or higher.
Education level in Nova Scotia
| Education level | Share (%) |
|---|---|
| Bachelors or higher | 15.0 |
| Primary Education | 5.8 |
| Other | 79.2 |
Nova Scotia Province industry reports
IBISWorld Province Industry Reports help you quickly understand how an industry performs at the province level compared with the national level, with accurate and unbiased industry information with a local focus. Use this collection to:
- Discover key local industry trends
- Identify threats and opportunities at the subnational level
- Inform your business strategies and planning
See our list of 415 Nova Scotia industry reports.
Other provinces to explore
Compare Nova Scotia’s economy with other provinces in Canada.
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