New Brunswick Economy in 2026: GDP, Investment, Employment and Trade

New Brunswick entered 2026 with a larger population, higher employment and record levels of activity in several investment and construction indicators. The province also faced a more uneven trade and manufacturing environment. The result is not a simple growth story. It is an economy in which infrastructure, construction, utilities, health care and selected industrial activities are expanding while exporters and manufacturers continue to navigate price, demand and trade uncertainty.

This profile uses the latest comprehensive provincial figures available as of August 2026. Most annual results come from the Government of New Brunswick’s 2025 economic review, which is based primarily on Statistics Canada data available as of May 1, 2026.

New Brunswick economy: key 2025 indicators

These indicators show why a single headline can be misleading. Real output, employment, wages, retail activity and investment advanced, but the value of manufacturing sales and merchandise exports declined. Economic conditions therefore varied significantly by industry.

Real GDP growth was led by construction and utilities

New Brunswick’s real GDP increased by 2.0% in 2025. Goods-producing industries expanded by 2.9%, outpacing the 1.7% increase in service-producing industries. Construction recorded the strongest industry gain at 9.2%, while utilities grew by 7.4%.

Sixteen of the twenty-three major industries covered in the provincial review expanded during the year. Manufacturing, however, recorded the largest decline in real GDP measured in dollar terms. This combination matters: the province was growing, but that growth was not distributed evenly across its commercial base.

Population growth continued at a slower pace

New Brunswick’s population reached 869,682 on July 1, 2025, an increase of 1.3% from the previous year. Growth remained positive but slowed below 2% for the first time since 2021. The provincial review attributes much of that slowdown to lower international migration, particularly a reduction in net non-permanent residents. Net interprovincial migration also turned slightly negative for the first time since 2016.

Population growth affects consumer demand, housing, public infrastructure and the size of the labour force. Slower growth does not reverse the province’s recent expansion, but it changes assumptions about the pace and geography of future demand.

Employment and earnings increased

Employment rose by 1.3% to 405,200 positions in 2025. The increase included 6,900 additional full-time jobs, partly offset by a decline of 1,700 part-time positions. The labour force reached 436,300 people, and the annual unemployment rate edged up to 7.1%.

Average weekly earnings increased by 3.7% to $1,188.91. Total wages and salaries reached $23.7 billion, representing growth of 5.7%, the second-highest rate among the provinces. These figures support household income and demand, although conditions differ by region, occupation and industry.

Investment produced one of the strongest signals

Total capital investment increased by 9.5% to approximately $6.2 billion. Private investment rose by 7.6%, while public investment increased by 12.2%. Manufacturing recorded the largest industry increase in capital spending, rising by $352.8 million to $1.3 billion. Utilities followed with an increase of $204.4 million.

Building construction investment reached a record $4.8 billion, up 20.4%. Housing starts rose by 23.0% to 7,587 units, the highest level in the comparable series dating back to 1955. Multi-unit construction was the main driver.

For suppliers, contractors and business-service companies, capital investment can be a more useful commercial signal than GDP alone. It points to where organizations are adding capacity, upgrading assets or responding to infrastructure and population needs.

Manufacturing and exports were more challenging

Manufacturing sales declined by 6.8% to $23.0 billion. Non-durable goods, which represented 83.0% of manufacturing sales, fell by 8.1%. Durable-goods sales edged down by 0.4%. Despite lower sales, manufacturing employment increased by 20.6% to 33,400 positions, with gains in wood products, fabricated metals and food manufacturing.

Merchandise exports declined by 8.6% to $16.0 billion, largely because of lower oil export volumes and prices. Imports fell more sharply, by 11.2%, and the province’s merchandise trade surplus widened to $694.7 million. The figures show the importance of separating changes in commodity value from changes in broader productive capacity.

The 2026 direction: productivity, investment and diversified exports

The province’s 2026 economic development strategy identifies three core objectives: increasing productivity, attracting private investment, and growing and diversifying exports. It highlights resource-based industries, knowledge and technology-enabled industries, and defence as priority areas.

The strategy also emphasizes capital access, skilled labour, energy systems and economic infrastructure. These priorities align with the mixed evidence in the 2025 data: investment is rising, but productivity, export diversification and industrial competitiveness remain central questions.

What the data means for companies evaluating New Brunswick

• Do not treat the province as a single uniform market. Construction, utilities, manufacturing, resources, logistics and services follow different cycles.
• Look beyond total sales figures. Investment, employment and subsector activity can move in different directions.
• Account for regional concentration. Saint John, Moncton, Fredericton and northern New Brunswick have different industry clusters and commercial networks.
• Monitor current evidence. Commodity prices, U.S. trade exposure, infrastructure investment and population growth can materially change the picture from one year to the next.

Deal NB monitors New Brunswick’s commercial environment to support informed local market decisions. Companies evaluating buyer relevance or local commercial coverage can start a focused conversation with Deal NB.

Sources and data note

• Government of New Brunswick, The New Brunswick Economy: 2025 in Review
• Government of New Brunswick, Economic Development Strategy, 2026
• Statistics Canada, GDP by industry, provinces and territories

Data reviewed August 11, 2026. Statistics may be revised by the publishing agencies. This article provides general economic information, not financial, legal or investment advice.