Bio-based Economy

The $78.3 Billion Canadian Bio-based Economy

Biotechnology is driving an economic shift to a broader “bio-based economy” which integrates biologic products and technologies, derived from renewable resources, into new sustainable production and manufacturing processes.

Canada’s bio-based economy is valued at 78.3 billion dollars. At 6.4 percent of the GDP, this footprint is larger than the automotive and aerospace sectors respectively.

The concept of the bio-based economy goes beyond the traditional definition of biotechnology. The bio-based economy focuses on biological tools and products from renewable resources to create wealth and sustainability in the production of medical treatments, diagnostics, more-nutritional foods, energy, chemicals, and materials, while improving the quality of the environment.


Canadian Industry Sectors GDP


Understanding the bio-based economy facilitates the right financial, policy, and regulatory frameworks that enable the integration of biotechnology into traditional economic sectors while also revitalizing these sectors

Though cross-sectoral and affecting a variety of different Canadian industries (and often out of the spotlight), Canada’s bio-based economy is already the backbone of the country’s national economy. For Canadian decision makers, building this bio-based economy here in Canada is a clear economic imperative and will lead to a path of job creation and prosperity in an increasingly bio-based generation.


Canada’s Bio-based Economy
Main Components


In addition to generating value on its own, the bio-based economy is helping to grow and sustain competitiveness in ailing and traditional sectors of the economy, such as automotive manufacturing, through the application of new and innovative products and processes.

The challenge therefore becomes building a world-leading bio-based economy and establishing the foundations for a safer, cleaner, healthier, and more sustainable future. 

Bio-Based Economy Statistics	Value of prov. bio-economy (billions of $2002 dollars)	Percentage of provincial GDP
Alberta	8.36	4.63
BC	6.99	4.61
Manitoba	3.15	7.76
New Brunswick	0.72	3.97
Newfoundland	1.09	5.06
Nova Scotia	1.70	6.37
Ontario	33.94	6.81
PEI	0.24	6.38
Quebec	19.41	7.85
Saskatchewan	2.81	7.40
CANADA	78.3	6.40

Sources:
Statistics Canada, CANSIM Table 379-0025 & 379-0027: Gross Domestic Product (GDP) at basic prices, by NAICS, Geography = Provinces & Canada (for 0025 and 0027), Year = 2007; Seasonal adjustment = Seasonally adjusted at annual rates; Prices = Chained 2002 dollars.

Measuring the bio-based economy: A Canadian perspective, William Pellerin, D. Wayne Taylor. Journal of Industrial Biotechnology. December 1, 2008, 4(4): 363-366. doi:10.1089/ind.2008.4.363.