OTTAWA, June 23 (Xinhua) -- Canada's real gross domestic product (GDP) of the natural resources sector rose 2.9 percent in the first quarter of 2021, according to Statistics Canada on Wednesday.
It was the third consecutive quarterly increase. The rise in the natural resources sector was strong, compared with economy-wide real GDP which increased 1.4 percent, reflecting growing demand for natural resource products as the country recovers from the pandemic.
The first quarter real natural resource GDP increase was broad-based.
The real GDP of the energy subsector added 2.6 percent, largely from export-led gains in production due to increased consumption and positive price trends.
The real GDP of the mineral and mining subsector rose 5.1 percent for the third consecutive quarter as production increased following rising prices.
Non-metallic minerals rebounded 8.8 percent, following a drop of 9.4 percent in real GDP in the previous quarter. Many potash mines reopened following COVID-19-related closures. Potash prices and demand rose in the first quarter. Metallic minerals real GDP increased 5.8 percent in the first quarter due to increased copper production.
The real GDP of the forestry subsector edged up 1.9 percent, the third consecutive quarterly increase. This was largely due to an increase in demand for lumber caused by a rise in housing construction. In March, housing starts rose 21.6 percent.
Hunting, fishing and water real GDP declined 1 percent in the first quarter of 2021. Enditem
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