The economy of Alberta is the sum of all economic activity in Alberta, Canada's fourth largest province by population. Alberta's GDP in 2018 was CDN338.2billion.AlthoughAlbertahasapresenceinmanyindustriessuchasagriculture,forestry,education,tourism,finance,andmanufacturing,thepoliticsandcultureoftheprovincehavebeencloselytiedtotheproductionoffossilenergysincethe1940s.Alberta—withanestimated1.4billioncubicmetresofunconventionaloilresourceinthebituminousoilsands—leadsCanadaasanoilproducer.In2018,Alberta′senergysectorcontributedover71.5 billion to Canada's nominal gross domestic product. According to Statistics Canada, in May 2018, the oil and gas extraction industry reached its highest proportion of Canada's national GDP since 1985, exceeding 7% and "surpass[ing] banking and insurance" with extraction of non-conventional oil from the oilsands reaching an "impressive", all-time high in May 2018. With conventional oil extraction "climbed up to the highs from 2007", the demand for Canadian oil was strong in May.
From 1990 to 2003, Alberta's economy grew by 57% compared to 43% for all of Canada—the strongest economic growth of any region in Canada. In 2006 Alberta's per capita GDP was higher than all US states, and one of the highest figures in the world. In 2006, the deviation from the national average was the largest for any province in Canadian history. Alberta's per capita GDP in 2007 was by far the highest of any province in Canada at C74,825(approx.US75,000). Alberta's per capita GDP in 2007 was 61% higher than the Canadian average of C46,441andmorethantwicethatofalltheMaritimeprovinces.From2004to2014Alberta′s"exportsofcommoditiesrose91121 billion in 2014" and 500,000 new jobs were created. In 2014, Alberta's real GDP by expenditure grew by 4.8%, the strongest growth rate among the provinces." In 2017, Alberta's real per capita GDP—the economic output per person—was 71,092,comparedtotheCanadianaverageof47,417.
