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Fixed assets, 2013

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Released: 2014-11-27

The value, in constant dollars, of Canada's non-residential and residential net capital stock stood at $3.5 trillion in 2013, up 3.0% from 2012. Non-residential capital stock represented just over half of all stock at 51.9% in 2013, while residential capital stock represented 48.1%.

Non-residential fixed capital

Non-residential capital stock, which is composed of building and engineering construction, machinery and equipment, and intellectual property products, stood at $1.8 trillion in 2013, a 66.5% expansion over two decades. Stock in all asset groupings were higher in 2013, led by investment in non-residential engineering construction, specifically oil and gas production facilities and other oil and gas engineering. The share of total stock attributable to engineering construction stood at 44.2% in 2013, compared with 40.3% in 1994. Conversely, the share of non-residential building capital stock decreased to 27.4% in 2013 from 34.0% in 1994.

Stock of intellectual property products, which includes software, research and development as well as mineral exploration and evaluation, accounted for 10.3% of total non-residential capital stock in 2013 and machinery and equipment accounted for 18.1%.

Chart 1  Chart 1: Year-end net stock - Description and data table
Year-end net stock

Chart 1: Year-end net stock - Description and data table

High industrial concentration

There was a high industrial concentration of capital stock in Canada in 2013, with six industries accounting for 84.3% of non-residential fixed assets: mining, quarrying and oil and gas extraction; government sector; utilities; finance, insurance, real estate and rental and leasing; transportation and warehousing; and manufacturing. The mining, quarrying and oil and gas extraction industry represented the largest portion of capital stock at 27.5%. Within this industry, conventional oil and gas extraction accounted for over half of the fixed assets, almost entirely engineering construction assets.

All but one industry have expanded their fixed assets holdings since 1994. The manufacturing industry had a lower level of capital stock in 2013 ($121 billion or 6.6% of the total) compared with 1994 ($130 billion, or almost 12% of the total). This decline was primarily related to machinery and equipment assets.

Engineering assets account for the largest proportion of fixed assets in most provinces

Provincially, Alberta recorded the largest growth in fixed assets with a 147.8% increase since 1994, followed by Saskatchewan and Newfoundland and Labrador. The Northwest Territories and Nunavut experienced much slower growth, while Nova Scotia had a modest 21.9% increase.

The ratio of type of asset (building and engineering construction, machinery and equipment, and intellectual property products) to total fixed assets varied significantly between provinces. The proportion of engineering construction assets in Newfoundland and Labrador, Saskatchewan and Alberta was more than 50% of their respective totals, with Alberta having the highest proportion of this group at 60.6%. Engineering construction represented the greatest share in all provinces and territories except Prince Edward Island, Ontario and Nunavut. Prince Edward Island and Ontario had a higher ratio of buildings; Nunavut had a higher proportion of intellectual property products as a result of expanded investment in mineral exploration and evaluation in recent years.

Chart 2  Chart 2: Year-end net stock, by type of asset, as a share of the total, 2013 - Description and data table
Year-end net stock, by type of asset, as a share of the total, 2013

Chart 2: Year-end net stock, by type of asset, as a share of the total, 2013 - Description and data table

Residential fixed capital

Residential capital stock, which includes renovations and new construction, increased 2.9% from 2012 to $1.7 trillion in 2013. Renovations have accounted for a steadily increasing share of the total since 1994 and stood at 31.8% in 2013.

On a provincial and territorial basis, the share of renovations to total residential capital stock was similar for most regions, with the exception of Newfoundland and Labrador, New Brunswick and the Northwest Territories, where the renovations portion was much higher. On the other hand, Alberta and Nunavut's share of renovations were much lower, at close to 20% of the total.

Chart 3  Chart 3: Residential year-end net stock - Description and data table
Residential year-end net stock

Chart 3: Residential year-end net stock - Description and data table

  Note to readers

This release reflects revised estimates of investment flows, depreciation and capital stock for reference years 1961 to 2013, based on updated depreciation profiles and service life models. In addition, the classification of non-residential capital stock is based on the final demand classification used for the input-output tables.

Additional details on these changes can be found in "Changes to the Flows and Stocks of Fixed Capital."

Estimates of non-residential and residential investment, depreciation and the associated net stocks are available, by geographical breakdown, on a current price basis, 2007 constant price basis (2007 asset price =100) and chained (2007) dollar basis. Non-residential estimates of depreciation and stocks are available by industry and by asset, using linear, geometric and hyperbolic methods. The residential estimates are available by type of investment using geometric methods.

Contact information

For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (613-951-4636; statcan.mediahotline-ligneinfomedias.statcan@canada.ca).

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