Canada's gross domestic product of natural resources down

Source: Xinhua| 2020-01-18 04:23:03|Editor: yan
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OTTAWA, Jan. 17 (Xinhua) -- Canada's gross domestic product (GDP) of the natural resources sector fell 2.2 percent in the third quarter last year, following an increase of 2.8 percent in the second one, according to Statistics Canada on Friday.

The fall was largely attributable to a substantial decrease in crude oil and bitumen extraction, reflecting the shutdown and maintenance of some production facilities.

Among natural resources, the real GDP of the energy subsector declined 2.3 percent in the third quarter, following a rise of 3.7 percent in the second quarter.

Oil sands extraction declined largely because of the shutdown and maintenance of some production facilities in the country while crude oil extraction dropped because of the shutdown and maintenance at some offshore production facilities.

The forestry subsector continued to decline in the third quarter, the fifth consecutive quarter. It lost 3.9 percent in the third quarter due to lower global demand for forestry products and higher production costs in 2019.

The minerals and mining subsector decreased 1.5 percent because of weak international demand for potash and iron ores.

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