Stock and consumption of fixed capital, 2014
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The value of Canada's non-residential and residential net capital stock increased 2.7% from 2013 to $3.6 trillion in 2014. Non-residential capital stock represented 51.5% of the total stock in 2014, while residential capital stock accounted for 48.5%.
Non-residential capital stock
Non-residential capital stock, which is composed of building and engineering construction, machinery and equipment as well as intellectual property products, stood at $1.9 trillion in 2014, 2.5% higher than in 2013. The stock of non-residential engineering construction rose 4.9% following a 5.7% gain in 2013, while the stock of non-residential building construction increased by 1.7%.
When calculating capital stock, a decrease in the level of stock occurs when the level of depreciation is higher than the flow of new investment. For 2014, this occurred for two asset categories, intellectual property products (-0.6%) and machinery and equipment (-0.4%). For machinery and equipment, this was the second consecutive year with a lower level of stock.
Alberta expands its share of total stock
Alberta had $573 billion worth of non-residential stock in 2014, accounting for just under one-third of the total non-residential stock in Canada. In 2011, Alberta surpassed Ontario to become the province holding the largest share of Canada's non-residential stock, primarily as a result of increases in the mining, quarrying and oil and gas extraction industries.
The non-residential capital stock rose in seven provinces and two territories. Newfoundland and Labrador had the strongest growth at 9.7%, followed by Nunavut (+6.6%), Alberta (+5.3%) and Saskatchewan (+5.2%). The level of capital stock decreased in Prince Edward Island, Nova Scotia, Northwest Territories and New Brunswick.
For almost half of the provinces and territories, more than one-third of non-residential capital stock was held by the government sector. However, capital stock was highly concentrated in the mining, quarrying and oil and gas extraction industries in four provinces. In 2014, these industries accounted for 70% of the capital stock in the Northwest Territories, 61% in Alberta, 48% in Newfoundland and Labrador and 46% in Saskatchewan. At the Canada level, 29% of the non-residential capital stock was in the mining, quarrying and oil and gas extraction industries, while 25% was in the government sector.
Residential capital stock
Residential capital stock, which consists of renovations, new residential construction and transfer costs, increased 2.9% to $1.8 trillion in 2014. Overall, 68% of the total residential stock was due to the original investment in the home while 32% was due to renovations made to homes during their lifecycle.
The pace of residential stock growth was similar to that in 2013, with every province and territory posting a gain in 2014, led by Alberta (+4.2%), Saskatchewan (+4.1%) and British Columbia (+4.0%).
Note to readers
This release reflects revised estimates of investment flows and prices in accordance with the 2015 comprehensive revision of the Canadian System of Macroeconomic Accounts. Additional information is available in the article "A preview of the 2015 comprehensive revision of the Canadian System of Macroeconomic Accounts."
The classification of non-residential capital stock is based on the final demand classification used in supply and use tables.
Estimates of non-residential and residential investment, depreciation and the associated net stocks are available by geographical breakdown on a current price basis, 2007 constant price basis (2007 asset price = 100) and chained (2007) dollar basis. Non-residential estimates of depreciation and stocks are available by industry and by asset, using linear, geometric and hyperbolic methods. Residential estimates are available by type of investment using geometric methods.
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; STATCAN.infostats-infostats.STATCAN@canada.ca) or Media Relations (613-951-4636; STATCAN.mediahotline-ligneinfomedias.STATCAN@canada.ca).
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