Fixed assets

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The value of Canada's fixed assets reached $1,646 billion in 2009, up 1% from 2008. The advance was almost entirely due to the 4% increase of the assets in the public administration sector. From 1999 to 2009, fixed assets have grown by 23%.

The business sector accounted for $1,280 billion, or 78% of this total. The public administration sector, which includes the three levels of government, educational services and health care, accounted for the remaining $367 billion, or 22%.

In contrast to the public administration sector, the value of assets in the business sector remained virtually unchanged from 2008, suggesting that investment was almost equal to depreciation.

Non-residential building and engineering account for majority of assets

Canada's stock of fixed assets is divided into two main groupings. The first is non-residential construction, which includes both non-residential building and engineering structures. The second is machinery and equipment.

The value of assets in the construction grouping amounted to $1,078 billion, or nearly two-thirds (65%) of total fixed assets. Machinery and equipment assets amounted to $568 billion, or 35% of the total.

Machinery and equipment assets increased 39% in value from 1999, more than twice the 17% increase in non-residential building and engineering assets.

Commercial buildings remained the most valuable asset, amounting to $247 billion, or 18% of total assets. This was a 4% increase from 1999. Following closely in second place was the value of assets in oil and gas engineering, amounting to $236 billion, or 17% of the total. The value of these assets increased 59%.

In the machinery and equipment grouping, industrial machinery assets had the highest value at nearly $165 billion.

However, the fastest growth rate belonged to computer assets, the value of which increased more than four-fold to just over $55 billion during the 10-year period.

Provinces: Alberta, British Columbia lead growth of fixed assets

Between 1999 and 2009, fixed assets increased in every province and territory.

During this time, assets in Alberta increased by 72%, a much faster pace than any other province. As a result, the value of its assets increased to $379 billion in 2009 from $221 billion in 1999, replacing Quebec as the second largest asset holder in Canada.

The mining and oil and gas extraction sector accounted for nearly half of Alberta's total fixed assets in 2009. This sector was the main contributor to the large increase, despite a slowdown in capital expenditures intentions in 2009.

British Columbia had $194 billion worth of building, structures and equipment in use in 2009, up 21% from 1999, the second fastest rate of growth. During this period, increases in mining and oil and gas extraction, and transportation and warehousing were partly offset by decreases in the manufacturing and real estate sectors.

Ontario had the nation's largest fixed capital stock at $524 billion in 2009. This stock grew by a modest 13% over the decade. Quebec's capital stock rose 11% to $309 billion.

As a result of their lower rates of growth, the shares of Ontario and Quebec in Canadian fixed assets declined from 1999 to 30% and 18% respectively in 2009. The downturn in the manufacturing sector in both provinces had a negative impact on their fixed asset growth.

Strength in information and communications technologies assets continues

Information and communications technologies (ICT) represent key assets in the total stock of machinery and equipment available in the Canadian economy. The continuous and rapid expansion of ICT applications and the sharp price decreases encouraged Canadian industries to invest heavily in ICT assets over the last decade.

In 2009, the ICT stock was worth $147 billion. In 1999, ICT in machinery and equipment had already accounted for 19% of the total. By 2009, this proportion had reached 21%.

Information industries, finance and insurance, and public administration owned more than half of Canada's ICT assets. Robust investment over the last 10 years in these three sectors played an important role in the substantial increase in the net stock of ICT.

Mining and oil and gas extraction replaces utilities as the largest sector

Fixed assets in the mining and oil and gas extraction sector nearly doubled in size over the decade to $281 billion in 2009. This sector replaced utilities as the largest sector in Canada.

Alberta accounted for two-thirds of the sector's assets. The mining and oil and gas extraction sector owned 19% of the total fixed assets in the economy in 2009, up from 11% in 1999.

The manufacturing sector slid from the third largest in 1999 to the fifth in 2009. The capital stock in manufacturing declined 15% over the last 10 years. Petroleum and coal products was one of the few industries in manufacturing in which net stock increased during the decade.

Available on CANSIM: tables 031-0002 to 031-0004.

Definitions, data sources and methods: survey number 2820.

To order data, contact Flo Magmanlac (613-951-2765; flo.magmanlac@statcan.gc.ca). For more information or to enquire about the concepts, methods and data quality, contact Michel Labonté (613-951-9690; michel.labonte@statcan.gc.ca) or Xiang Zhou (613-951-0457; xiang.zhou@statcan.gc.ca), Investment and Capital Stock Division.