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PROVINCIAL ECONOMIC PROFILE

Northwest Territories Economic Overview

$4.2b

GROSS PROVINCE PRODUCT

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Growth Rate 2020-25

Province
Growth Rank

1.2%

12

44,782

POPULATION

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Growth Rate 2020-25

Province
Growth Rank

0.1%

13

2,173

BUSINESSES

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Growth Rate 2020-25

Province
Growth Rank

-0.7%

13

Overview of the Northwest Territories Economy

In 2025, the province of Northwest Territories has a population of 44,782, having grown an annualized 0.1% over the five years to 2025, which ranks it 13rd out of 13 provinces and territories by growth rate. Northwest Territories' gross domestic product (GDP) in 2025 reached $4.2b, with growth of 1.2% over the 5 years to 2025. Businesses in Northwest Territories employed a total of 22,414 people in 2025, with average annual employment growth over the past five years of %. The top three sectors by total employment are Public Administration in Canada, Mining, Real Estate and Rental and Leasing,

What is Northwest Territories' Gross Domestic Product (GDP)?

In 2025, Northwest Territories' GDP reached $4.2b, representing an increase of 1.2% from 2024. Northwest Territories' GDP has grown at an annualized rate of 0.3% over the five years to 2025. Moreover, Northwest Territories' trailing five-year GDP growth ranks it 12th out of 13 provinces and territories.

Provincial GDP is a measurement of a province's output, or the sum of value added from all industries in the province. It is a common indicator used to track the health of a provincial economy.

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PROVINCIAL ECONOMIC PROFILE

Northwest Territories Industry Trends

Learn about current trends affecting the most significant industries for Northwest Territories' economy, down to the county level. IBISWorld offers provincial industry research reports across all 13 provinces and territories, including 281 industries in Northwest Territories.

What are Northwest Territories' Largest Industries by Revenue?

The largest industries by revenue in Northwest Territories are Gasoline & Petroleum Wholesaling, Gasoline & Petroleum Bulk Stations and Commercial Banking, which generated $1.7b, $1.2b and $994.6m in 2025.

See all industries in Northwest Territories >

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PROVINCIAL ECONOMIC PROFILE

Top Companies in Northwest Territories

Learn about current trends affecting the top companies in Northwest Territories.

Top 10 Companies in Northwest Territories by Employment

The largest companies by employment in Northwest Territories are The Government of Northwest Territories, Rio Tinto and The Washington Companies, which employed 5,000, 1,880 and 1,800 people in 2025.

Company
2025 Employment
2025 Employment %
1.
The Government of Northwest Territories
5,000
22.3%
2.
Rio Tinto
1,880
8.4%
3.
The Washington Companies
1,800
8.0%
4.
Walmart
245
1.1%
5.
City of Yellowknife
206
0.9%
6.
Loblaw Companies
183
0.8%
7.
RTL Robinson Enterprises Ltd.
120
0.5%
8.
Tim Hortons
84
0.4%
9.
Mcdonald’s corporation
62
0.3%
10.
Td Bank N A
40
0.2%

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PROVINCIAL ECONOMIC PROFILE

Northwest Territories Sector Statistics

In Northwest Territories, 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 Northwest Territories' GDP by Sector?

The Public Administration in Canada, Mining and Real Estate and Rental and Leasing sectors contributed the most to Northwest Territories' GDP in 2025, representing a combined 47.1% 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.

Sector
GDP
Growth 2025 (%)
Annualized Growth 2020-25
660,115,809
-4.3%
-1.5%
336,820,279
12.1%
15.7%
300,702,714
2.2%
1.6%
268,416,564
-0.7%
-0.9%
183,434,013
-1.0%
-0.9%
137,573,223
11.4%
15.0%
135,835,853
1.0%
1.1%
109,927,356
-1.3%
-2.1%
66,450,281
-1.9%
-1.2%
39,188,625
-5.1%
-9.3%
12,843,122
-2.8%
-4.2%

What is Northwest Territories' Employment by Sector?

The Healthcare and Social Assistance, Retail Trade and Transportation and Warehousing sectors contributed the most to employment in Northwest Territories in 2025, representing a combined 43.2% 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.

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PROVINCIAL ECONOMIC PROFILE

Northwest Territories Employment Trends

22.4k

EMPLOYMENT

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Growth Rate 2020-25

Province
Growth Rank

2.1%

5

What Employment Trends are Impacting Northwest Territories' Economy?

The province of Northwest Territories employs 22,414 people in 2025, which ranks it 12th out of 13 provinces and territories. Employment in Northwest Territories has grown at an annualized rate of 2.1% over the five years to 2025, overperforming the national average of 1.8%. Major sectors by employment in Northwest Territories include Healthcare and Social Assistance, Retail Trade and Transportation and Warehousing, which employed 3,509, 3,385 and 2,793 people in 2025, respectively. Northwest Territories' unemployment rate is in 2025, which ranks it 0 out of 13 provinces and territories. Northwest Territories' unemployment rate has trended downwards at a rate of over the five years to 2025, 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. You can track unemployment trends in Northwest Territories, and compare them to the Canadian economy.

$152.1k

PER CAPITA DISPOSABLE INCOME

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Growth Rate 2020-25

Province
Growth Rank

2.6

9

What is Northwest Territories' 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. Northwest Territories' DPI in 2025 was $152.1k, compared to the Canadian average of $107.8k, which places it 9th 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.

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PROVINCIAL ECONOMIC PROFILE

Northwest Territories Construction & Building Trends

$6.3m

NONRESIDENTIAL CONSTRUCTION

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Growth Rate 2020-25

Province
Growth Rank

9.4%

9

$8.8m

RESIDENTIAL CONSTRUCTION

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Growth Rate 2020-25

Province
Growth Rank

1.2%

1

57

BUILDING PERMITS

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Growth Rate 2020-25

Province
Growth Rank

-6.5%

2

What can construction trends tell you about a state’s economy?

In Northwest Territories, non-residential construction was $6.3m in 2025, which ranks it 9th out of 13 provinces and territories. Residential construction was $8.8m in 2025, which places Northwest Territories 1st out of 13 provinces and territories. The number of building permits issued in Northwest Territories in 2025 was 57, representing a -6.5% annualized growth rate between 2020 and 2025.

Trends in the construction sector are important because it creates jobs, income and tax revenue for a state. 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.

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PROVINCIAL ECONOMIC PROFILE

Northwest Territories Demographics

In Northwest Territories, 16.3% of the population has a Primary Education.

Education Level Northwest Territories

Education Level
Northwest Territories (%)
Primary Education
16.3
Bachelors or higher
13.3
Other
70.4
Northwest Territories Province Industry Reports

IBISWorld Province Industry Reports help you quickly understand how an industry performs at the province level compared with the national level by providing 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 281 Northwest Territories Industry Reports.

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