Are you in the search of warehouse spaces for rent in Ontario? See the listings above and use our custom search features to discover the best spaces.Ontario is Canada's most populous province and is home to many of the country's key industries. The province is home to a diverse range of industries, including manufacturing, finance, retail, and tourism. Ontario is the nation's largest manufacturing hub, with a total output of $970 billion CAD in 2021 (https://www.ofina.on.ca/pdf/presentation_q2_2022_en.pdf)
The province is also home to a large agriculture sector, which accounted for $9.4 billion CAD of the province's GDP in 2021. (https://www.jobbank.gc.ca/trend-analysis/job-market-reports/ontario/sectoral-profile-agriculture#:~:text=In%202021%2C%20the%20sector%20employed,1.2%25%20of%20Ontario's%20total%20GDP)
Ontario's economy is heavily dependent on its industries. In 2021, the province generated a total GDP of $970 billion CAD, most of it thanks to its numerous industries (https://www.ofina.on.ca/pdf/presentation_q2_2022_en.pdf)
This accounted for 67% of the province's GDP. The manufacturing sector alone contributed $176 billion CAD, or 26% of the total GDP. This is significantly higher than the national average of 16%.
In terms of labor, Ontario is home to over 7.8 million jobs, with manufacturing and finance making up the largest share. (https://www.ontario.ca/page/labour-market)
The manufacturing sector employs over 900,000 people, while the finance sector employs over 500,000 people. In terms of wages, the average weekly wage in Ontario is $1,522.73 CAD. (https://www.statista.com/statistics/579529/weekly-earnings-of-employees-ontario/)
Ontario's economic trends are largely positive, with the province's GDP growing at an average annual rate of 11.4% in 2022 (https://www.fao-on.org/en/Blog/Publications/EBO-FA2022#:~:text=Ontario's%20nominal%20GDP%20growth%20is,11.9%20per%20cent%20in%202021)
In terms of GDP per capita, Ontario ranked 8th in the nation in 2021 with a GDP per capita of $64,602 CAD. This was slightly lower than the national average of $65,651 CAD. (https://www.wikiwand.com/en/List_of_Canadian_provinces_and_territories_by_gross_domestic_product#GDP_and_per_capita_GDP,_2021)
Overall, Ontario is home to a diverse range of industries that contribute significantly to the province's economy. In terms of labor, the province has a higher average wage than the national average, and its economic trends have been largely positive. Ontario is home to Canada's largest manufacturing sector and ranks 8th in terms of GDP per capita.