Quebec plays a critical role in Canada’s economy, accounting for nearly 20% of total national GDP each year between 1997 and 2017. The province’s GDP was an estimated $331 billion in 2018, 14% of which was generated by the manufacturing sector.

Manufacturing is also a major employer in the province, accounting for 12% of the total labour force. Quebec has a positive economic outlook, with annual GDP growth of at least 1.9% projected through 2029. However, the province’s manufacturing sector is expected to see its GDP growth slow in the coming years.

Quebec was also home to over 8.6 million people as of 2018, accounting for approximately 22% of Canada’s total population. Quebec’s population is expected to surpass 8.7 million by 2020 and total nearly 10.0 million people by 2030. Population growth in Quebec has largely been driven by migration over the past two decades. Net migration accounted for over 75% of the total change in the province’s population in 2018. Population growth will likely continue to be driven primarily by migration, as a declining birth rate means little natural population change. The proportion of the total provincial population change accounted for by net migration is expected to surpass 95% by 2030 based on current trends. The province is expected to see an aging trend in its population, with the share of the population aged 65 years and over projected to increase from 18% in 2016 to 23% by 2030. The provincial unemployment rate, or the proportion of unemployed person in the labour force, was relatively low at 5.5% in 2018, just below the national average of 5.8%.

New motor vehicle sales in Quebec have risen slowly since 2010, increasing from under 420,000 in that year to 460,000 in 2018. However, the province’s share of all Canadian vehicle sales has fallen from 26% to 23% over the same period. Additionally, Quebec had a trade deficit of $543 million in automotive products in 2018 due to a growing trade deficit in motor vehicle parts.