The COVID-19 pandemic has affected all the countries and their economies in various ways. Deaths, quarantine, social instability are just some of its factors. The Canadian case is definitely not the words compared to what happened in the United States, Italy, or, for instance, Russia. Nevertheless, it is essential to examine all the possible cases, so this piece analyzes the coronavirus impact on the economy of Nova Scotia province in Canada.
To begin with, it is vital to examine the composition of the Nova Scotia population. Agee distribution of the province is the following: individuals of 0 – 14 years constitute about 14 percent of the population, 14 – 64 – about 66 percent, 65 years and over – 20 percent (Statistics Canada, Census Profile). Almost 6 percent of Nova Scotians identify themselves as Aboriginals people (Statistics Canada, Census Profile). As for the visible minorities, the most influential groups are Black, Arab, and South Asian (Statistics Canada, Census Profile). There are 55,675 immigrants in comparison to 842,760 non-immigrants (Statistics Canada, Census Profile). English speakers dominate Nova Scotia, constituting 89 percent of the population. At the same time, francophones do not reach a percent, but 10 percent speak official languages, which are also the most popular Mother-tongues (Statistics Canada, Census Profile). Finally, speaking of the income distribution, the average total income in 2015 was 41,470 dollars, which is slightly less than in Canada overall; the same picture is demonstrated by median total income (Statistics Canada, Census Profile).
As for interprovincial migration, Nova Scotia seems to grow its population with its help. The number of in-migrants grew from 15,107 to 17,582 in 2015 – 2020 (Statistics Canada, Estimates of the components of interprovincial migration). Meanwhile, there is a vice versa situation with out-migration that dropped from 14,353 to 13,681 during this period (Statistics Canada, Estimates of the components of interprovincial migration). The most popular destinations are Ontario, Alberta, and New Brunswick (Statistics Canada, Estimates of the components of interprovincial migration).
Speaking of the drivers of population change in the three urban areas in Nova Scotia, it is relevant to analyze the state of affairs in Halifax, Kentville, and Cape Breton. Firstly, immigrants appear to be the primary driver for Halifax (5,361), while emigration stays insignificant (Statistics Canada, Components of population change). Birth rates stay not far behind (4,033) but are comparable with death (3,268) (Statistics Canada, Components of population change). Secondly, in Kentville, where the population is significantly smaller, birth is the number one driver for growth, being outnumbered by the death tolls (Statistics Canada, Components of population change). Thirdly, Cape Breton seems to observe a similar picture: death and birth rates are 1,414 and 871 respectively, and migration does not appear to bring dramatic changes (Statistics Canada, Components of population change).
If one points their attention to the labor forces characteristics, one may find significant differences among the education levels. Employment rates are the highest for university degree holders, above 70 percent (Statistics Canada, Labour force characteristics by educational degree). No degree, certificate, or diploma group demonstrates unemployment of 71,5 percent (Statistics Canada, Labour force characteristics by educational degree). The occupational mix of employed is dominated by business, finance, administration, sales and service, trade, education, law and social, community, and government services (Statistics Canada, Labour force characteristics by occupation). The goods-producing sector is a hegemon of industries in Nova Scotia (Statistics Canada, Labour force characteristics by industry). From the demographic perspective, the group of 15 – 64 years occupies the employment, while there is no dramatic gap between genders (Statistics Canada, Labour force characteristics by sex and detailed age group). Moreover, the provincial real GDP evolved over time: from 2014 to 2018, it grew from 41,319 to 43,578 dollars (Statistics Canada, Gross domestic product, expenditure-based, provincial, and territorial). As for the industry mix, it seems to reflect the labor characteristics analyzed above (Statistics Canada, Gross domestic product at basic prices, by industry, provinces, and territories).
Furthermore, trade turnover in Nova Scotia is relatively low in comparison to Canada overall. Interprovincial imports are significantly higher than exports: 13,667 versus 6,651 (Statistics Canada, Interprovincial and international trade flows). The most important international exports from the province are seafood products, tire shipments, and frozen fruit (Finance and Treasury Board, 3). Another point to be made deals with the public sector: real federal spending per capita in Nova Scotia is. Speaking of the sources of provincial government revenue, it is primarily income taxes as well as taxes on goods and services (Statistics Canada, Canadian government finance statistics (CGFS), statement of operations and balance sheet for consolidated governments). Debt security in assets constitutes 92,888 dollars (Statistics Canada, Canadian government finance statistics (CGFS), statement of operations, and balance sheet for consolidated governments).
Finally, one shall analyze the impact of COVID-19 on the province under discussion. The rate of total cases of COVID-19 in Nova Scotia is 11,5 cases per million people, thus 106 cases overall (Government of Canada). The number of deaths in the province is 65 as of November 3rd, 2020 (Government of Canada). Surprisingly, unemployment rates have not increased compared to 2018 or 2019 (Statistics Canada, Labour force characteristics). As for the retail trade sales impact, it shows significant growth from April to August 2020 (Statistics Canada, Retail trade sales).
To conclude, the coronavirus infection global pandemic influenced all the world places, and Nova Scotia is no exclusion. The province’s economy relies a lot on external trade, so COVID-19 could not help but influence life there. Meanwhile, according to statistics, the region did not have many cases, which can definitely be assessed as a positive indicator of social awareness and stability. What is more, this small province has not seen unemployment growth or a decrease in retail sales.
Works Cited
Finance and Treasury Board. “Nova Scotia Marks Milestone in Export Growth”. Nova Scotia.
Government of Canada. “Coronavirus disease 2019 (COVID-19): Epidemiology update”. Government of Canada.
Statistics Canada. “Canadian government finance statistics (CGFS), statement of operations and balance sheet for consolidated governments”. Statistics Canada.
Statistics Canada. “Census Profile, 2016 Census. Nova Scotia and Canada”. Statistics Canada.
Statistics Canada. “Components of population change by census metropolitan area and census agglomeration, 2016 boundaries”. Statistics Canada.
Statistics Canada. “Estimates of the components of interprovincial migration, annual”. Statistics Canada.
Statistics Canada. “Gross domestic product, expenditure-based, provincial and territorial”. Statistics Canada.
Statistics Canada. “Gross domestic product (GDP) at basic prices, by industry, provinces and territories”. Statistics Canada.
Statistics Canada. “Interprovincial and international trade flows, basic prices, summary level (x 1,000,000)”. Statistics Canada.
Statistics Canada. “Labour force characteristics”. Statistics Canada.
Statistics Canada. “Labour force characteristics by education”. Statistics Canada.
Statistics Canada. “Labour force characteristics by occupation”. Statistics Canada.
Statistics Canada. “Labour force characteristics by sex and detailed age group”. Statistics Canada.
Statistics Canada. “Retail trade sales by province and territory (x 1,000)”. Statistics Canada.