BC Stats released a progress report today that shows how British Columbia’s high technology sector is continuing to grow with new businesses emerging, increases in revenue, and workers in the sector are earning higher wages and salaries than ever before.
The new "Profile of the British Columbia High Technology Sector: 2013 Edition" indicates that B.C.’s high tech sector performed well in 2012, with growth in most areas. High tech gross domestic product (GDP), exports and earnings all experienced growth in addition to the provincial aggregate of all industries and goods.
Report highlights include:
- GDP of British Columbia’s high tech sector climbed 3.4% in 2012, the third consecutive year of growth.
- Revenues in the sector grew in 2012, climbing 3.5% to $23.2 billion.
- Combined wages and salaries continued to rise 7.7% in 2012, to almost $6.3 billion, the highest level ever recorded.
- An additional 253 net new businesses emerged in 2012, a growth of 2.9% over the previous year. In total, there are now 9,010 high tech businesses with employees in the province in 2012.
- The value of British Columbia high tech goods exports jumped 10.5%, to $994.3 million in 2012, the largest increase since the global economic downturn.
- High tech product export growth was mixed depending on the destination, with strong growth of 13.3% in shipments to the United States and 20.6% in exports of high tech goods to Pacific Rim countries.
British Columbia has been among the top provincial performers in terms of growth in high tech revenues over the last decade. Since 2002, high tech revenues in B.C. have significantly outpaced overall Canadian high tech revenue growth.
More information on B.C.’s tech strategy, introduced as part of the BC Jobs Plan in September 2011 is available here: www.bcjobsplan.ca/technology
Profile of the British Columbia High Technology Sector - 2013 Edition: www.bcstats.gov.bc.ca/StatisticsBySubject/BusinessIndustry/HighTechnology.aspx
Ministry of Technology, Innovation and Citizens’ Services