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Canada Province economic profile
Nunavut - Economic Profile
Statistics, economic information and rankings for this Northern territory
In 2026, the province of Nunavut has a population of 42,275, having grown an annualized 1.1% over the five years to 2026, which ranks it 11th out of 13 provinces and territories by growth rate. Nunavut's gross domestic product (GDP) in 2026 reached $4.6b, with growth of 4.6% over the 5 years to 2026. Businesses in Nunavut employed a total of 14,157 people in 2026, with average annual employment growth over the past five years of %. The top three sectors by total employment are Mining, Public Administration in Canada, Construction,
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Province economic profile
Nunavut Economic Overview
$4.6b
Gross province product
42,275
Population
1,067
Businesses
Province economic profile
Nunavut Industry Trends
Learn about current trends affecting the most significant industries for Nunavut's province economy, down to the county level. IBISWorld offers provincial industry research reports across all 13 provinces and territories, including 225 industries in Nunavut.
What are Nunavut's Largest Industries by Revenue?
The largest industries by revenue in Nunavut are Scheduled Air Transportation, Iron Ore Mining and Commercial Banking, which generated $1.1b, $1.1b and $968.4m in 2026.
| Industry | 2026 revenue | |
|---|---|---|
| 1. | Scheduled Air Transportation | $1.1b |
| 2. | Iron Ore Mining | $1.1b |
| 3. | Commercial Banking | $968.4m |
| 4. | Gasoline & Petroleum Wholesaling | $665.8m |
| 5. | Thermal Power | $546.1m |
| 6. | Gasoline & Petroleum Bulk Stations | $481.5m |
| 7. | Supermarkets & Grocery Stores | $411.0m |
| 8. | Colleges & Universities | $242.2m |
| 9. | Gold & Silver Ore Mining | $188.2m |
| 10. | Hospitals | $138.7m |
Province economic profile
Top Companies in Nunavut
Learn about current trends affecting the top companies in Nunavut.
Top 10 Companies Headquartered in Nunavut by Employment
The largest companies by employment in Nunavut are Government of Nunavut, Agnico Eagle Mines Limited and Makivik Corporation, which employed 6,600, 998 and 996 people in 2026.
| Company | 2026 employment | Share of employment | |
|---|---|---|---|
| 1. | Government of Nunavut | 6,600 | 46.6% |
| 2. | Agnico Eagle Mines Limited | 998 | 7.0% |
| 3. | Makivik Corporation | 996 | 7.0% |
| 4. | Federated Co-operatives Limited | 800 | 5.7% |
| 5. | The North West Company | 604 | 4.3% |
| 6. | Canada Post Corporation | 235 | 1.7% |
| 7. | Tim Hortons | 197 | 1.4% |
| 8. | Royal Bank of Canada | 175 | 1.2% |
| 9. | City of Iqaluit | 150 | 1.1% |
| 10. | Environment and Climate Change Canada | 58 | 0.4% |
Province economic profile
Nunavut Sector Statistics
In Nunavut, 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 Nunavut's GDP by Sector?
The Mining, Public Administration in Canada and Construction sectors contributed the most to Nunavut's GDP in 2026, representing a combined 63.6% 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 Nunavut's Employment by Sector?
The Transportation & Warehousing in Canada, Retail Trade and Educational Services sectors contributed the most to employment in Nunavut in 2026, representing a combined 49.0% 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 |
|---|---|---|---|
| Transportation & Warehousing in Canada | 3,236 | 7.6% | 4.0% |
| Retail Trade | 2,130 | 2.8% | -0.3% |
| Educational Services | 1,557 | 1.2% | 5.2% |
| Healthcare & Social Assistance in Canada | 1,329 | 2.3% | -7.2% |
| Mining | 998 | 2.3% | -0.4% |
| Accommodation & Food Services in Canada | 965 | 4.1% | 17.0% |
| Finance & Insurance in Canada | 635 | 4.4% | 16.1% |
| Manufacturing | 632 | 1.8% | -7.7% |
| Utilities | 496 | 35.5% | 7.2% |
| Administration, Business Support & Waste Management Services | 488 | 2.7% | 2.4% |
| Construction | 421 | 3.2% | -1.3% |
| Wholesale Trade | 377 | 3.0% | 3.3% |
| Professional, Scientific & Technical Services in Canada | 282 | 6.8% | 3.3% |
| Information | 256 | 3.6% | 5.6% |
| Agriculture, Forestry, Fishing & Hunting in Canada | 136 | 2.3% | -3.0% |
| Arts, Entertainment & Recreation in Canada | 99 | 4.2% | 2.6% |
| Real Estate & Rental & Leasing in Canada | 59 | 3.5% | -1.3% |
| Other Services (except Public Administration) | 44 | 2.3% | -1.3% |
Province economic profile
Nunavut Employment Trends
14.2k
Employment
What Employment Trends are Impacting Nunavut?
The province of Nunavut employs 14,157 people in 2026, which ranks it 13th out of 13 provinces and territories. Employment in Nunavut has grown at an annualized rate of 1.6% over the five years to 2026, overperforming the national average of 1.6%. Major sectors by employment in Nunavut include Transportation & Warehousing in Canada, Retail Trade and Educational Services, which employed 3,236, 2,130 and 1,557 people in 2026, respectively. Nunavut's unemployment rate is in 2026, which ranks it out of 13 provinces and territories. Nunavut's unemployment rate has trended downwards at a rate of over the five years to 2026, underperforming 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.
$185.0k
Per capita disposable income
What is Nunavut'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. Nunavut's DPI in 2026 was $185.0k, compared to the Canadian average of $120.6k, which places it 1st 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 Nunavut's per capita disposable income, and compare it to the Canadian average, using the chart below.
Province economic profile
Nunavut Construction & Building Trends
$4.1m
Nonresidential construction
$41.9m
Residential construction
130
Building permits
What can construction trends tell you about a province’s economy?
In Nunavut, non-residential construction was $4.1m in 2026, which ranks it 2nd out of 13 provinces and territories. Residential construction was $41.9m in 2026, which places Nunavut 13th out of 13 provinces and territories. The number of building permits issued in Nunavut in 2026 was 130, representing a 14.2% 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 Nunavut, and compare it to trends in the number issued in Canada as a whole, using the chart below.
Province economic profile
Nunavut Demographics
In Nunavut, 34.6% of the population has a Primary Education.
Education level in Nunavut
| Education level | Share (%) |
|---|---|
| Primary Education | 34.6 |
| Other | 65.4 |
Nunavut 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 225 Nunavut industry reports.
Other provinces to explore
Compare Nunavut’s economy with other provinces in Canada.
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