- PEI's Economic Functions-
- Despite being Canada's smallest province, PEI has a thriving agriculture scene, with nearly 600,000 acres of developed farmland.
- Their main agricultural products are potatoes, beef, grains, fish and oilseed.
- PEI implemented a harmonized sales tax (HST) of 14 in April 2015, combining the provincial rate of 9% and the federal rate of 5%. Harmonizing the sales tax was proposed as a way make PEI more competitive and attract investment and business
- Major Economic Sectors-
- As a small province, Prince Edward Island has historically depended on the land and the sea as the basis for its primary industries - agriculture, fisheries and tourism.
- Through the Island Prosperity Strategy, the economy is diversifying with support for growing industries such as aerospace, bioscience, and renewable energy
- International Trade-
- PEI makes most of its money through production and export. PEI's major exports are mostly agriculture based, with their main exports being prepared fruit and vegetables, and their main imports being fertilizers
- PEI, being a coastal province, is able to export reliably into Canada, as well as over to the US and Europe
- in 2012, PEI was Canada's 11th largest exporter of all the provinces and territories
- PEI Employment
- PEI has consistently had anl unemployment rate of abot 11.2%, jumping to 11.5% in the winter
- Tourism
- Being a coastal province, PEI is also a failry popular holiday destination, with many beautiful destinations to visit, such as St. Dunstan's Basilica and Victoria park in Charlottetown.
- A combination of historical landmarks and modern attractions make PEI a fairly successful tourism destination
http://www.thecanadianencyclopedia.ca/en/article/prince-edward-island/
http://www.gov.pe.ca/agriculture/AgonPEI