Remaining useful service life ratios of non-residential capital stock, 2023
Released: 2024-11-14
The remaining useful service life ratio of non-residential capital stock edged down from 63.4% in 2022 to 63.3% in 2023, resulting from a slowdown in investment. This was the eighth consecutive decline in the ratio and its lowest level since 2009. A decrease in the remaining useful service life ratio could indicate that new capital investment is required.
The provinces and territories rich in natural resources recorded the highest decreases in the remaining useful service life ratio in 2023: Newfoundland and Labrador (-0.9 percentage points), Saskatchewan (-0.8 percentage points), Alberta (-0.8 percentage points), and Nunavut (-0.9 percentage points). Meanwhile, increases were seen in Prince Edward Island (+0.5 percentage points), Nova Scotia (+0.3 percentage points), Quebec (+0.3 percentage points), Ontario (+0.1 percentage points), British Columbia (+0.7 percentage points) and Yukon (+0.6 percentage points).
The aggregate remaining useful service life ratio varied across Canada in 2023, ranging from a low of 49.8% in the Northwest Territories to a high of 67.4% in British Columbia. The remaining useful service life ratio increased the most in British Columbia due to investments in construction related to the liquified natural gas terminal near Kitimat.
Map 1
Remaining useful service life ratios of non-residential capital stock in 2023 (ratio in percentage)
Education services sector increases, while retail trade sector decreases
In 2023, the education services sector (67.5%) posted its third consecutive year-over-year increase in its remaining useful service life ratio. The largest decline was in the retail trade sector, down 1.8 percentage points to 53.5% in 2023. This sector has posted decreases every year since 2009.
Did you know we have a mobile app?
Download our mobile app and get timely access to data at your fingertips! The StatsCAN app is available for free on the App Store and on Google Play.
Note to readers
The ratio of an asset's remaining useful life is an estimate of the percentage of its remaining useful life before it no longer delivers an economic benefit. For example, if the expected useful life of an asset is 20 years and the average remaining life of the asset is 15 years, then the share of the remaining useful life would be 75%.
Due to the weighted nature of the calculation, a higher proportion of investment spending in recent periods on a given non-residential asset relative to previous periods will result in a younger average age and a higher ratio of remaining useful service life.
With this release on remaining useful service life ratios of non-residential capital stock, 2021 and 2022 data were revised. These revisions are consistent with those incorporated in the supply and use tables as well as in the provincial and territorial economic accounts, published on November 7, 2024.
Products
The data visualization product "Infrastructure Statistics Hub," which is part of Statistics Canada – Data Visualization Products (71-607-X), is available.
The Latest Developments in the Canadian Economic Accounts (13-605-X) is available.
The User Guide: Canadian System of Macroeconomic Accounts (13-606-G) is available.
The Methodological Guide: Canadian System of Macroeconomic Accounts (13-607-X) is also available.
Contact information
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; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
- Date modified: