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a changing economy

A MODERN ECONOMy

  • Québec’s economy has been transformed over the last few decades.

  • Long known for its natural resources, the economy now has a

developed service sector that accounts for 71% of real GDP.

  • High-technology industries are increasingly prominent.

  • Montréal ranks third in North America in terms of the number of

jobs per capita in high-technology sectors.

A hIghLy EDUCATED AND BILINgUAL wORkFORCE

Québec has a highly educated workforce:

  • 84% of workers have a secondary school diploma or better;

  • 21% hold a university degree.

More than 40% of Quebecers speak French and English:

  • in the Montréal region, this proportion is 53%;

  • in addition, 13% speak a third language.

BReakdown of Real gdp peR majoR sectoR - 2005

Unprocessed resources sector (agriculture, mines, forests, fisheries)

2.4%

Secondary sector

    • 26.8

      %

      • Manufacturing

industries 21.0%

  • Construction 5.8%

Service sector

    • 70.8

      %

      • Finance, insurance, real estate and leasing 17.1%

      • Education and health care services 10.8%

      • Commercial services

    • 11.9

      %

  • Commerce 12.3%

  • Information and culture

    • 4.6

      %

  • Transportation and warehousing 4.4%

  • Other 9.7%

Source: Institut de la statistique du Québec.

Partial post-secondary

Completed secondary

7.8%

16.3%

distRiBution of laBouR in QuÉBec By leVel of schooling

Source: Statistics Canada.

Partial secondary

    • 10.9

      %

      • 0

        to 8 years of schooling

    • 4.9

      %

Post-secondary degree or certificate

39.1%

University degree

21.0%

QUÉBEC’s UNIvERsITIEs: A POwERFUL ECONOMIC LEvER

  • With 160 000 students and 11 university institutions, Montréal is known as a top-flight university city:

    • it has the second-highest ratio of students per capita in North America, just behind Boston;

    • with more than 200 specialized centres, Montréal is the leader among Canadian university cities in terms of funds dedicated to research.

  • Québec universities play a key role in the innovation process. For instance:

    • the University of Sherbrooke is a leader in cellular telephony technology;

    • Laval University has earned a reputation for research on nutrition and obesity;

    • McGill University is the Canadian university awarded the most patents by the US Patent and Trademark Office.

  • Re$earch Money has ranked the Institut national de recherche scientifique (INRS) first among 50 Canadian universities for the intensity of its research.

ECONOMIC AND FINANCIAL PROFILE OF QUÉBEC

5

ECONOMy

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