New report confirms forestry sector is New Brunswick's greatest economic engine
The forestry industry remains New Brunswick’s greatest economic engine, outperforming all other export sectors in GDP contributions, employment and export revenue, a newly-released report has confirmed.
The economic impact assessment “Forest products: New Brunswick’s most important industry” prepared by Jupia Consultants Inc. reaffirms the forest industry’s place as the most important contributor to the New Brunswick economy. The sector drives economic growth by providing jobs, contributes to the tax base and generates local spending and private sector investments in communities all throughout the province.
In 2024, the New Brunswick forestry industry:
- Generated $2.8 billion in net exports, doubling the export value of the province’s next largest exporter (fish and seafood).
- Contributed $3.84 billion to provincial GDP – more than the sectors of farming/food products, fish/seafood, information technology, administrative services and refined oil products.
- Contributed $656 million in tax revenue to local governments and to the province.
- Supported $1.88 billion in employment income with an overall wage premium of 30 per cent.
- Supported more than 26,000 jobs, representing one in 17 New Brunswick workers.
- Drove $1.42 billion in household spending at businesses all across the province.
- Invested $1.35 billion in capital projects between 2023 and 2025, a full 40 per cent of all investments by New Brunswick’s manufacturing sector in the same period.
At 1,285 forestry firms province-wide, the economic impacts of the sector are wide-reaching with a presence in more than seven out of every 10 New Brunswick communities. This impact further provides important economic stability in rural communities across the province, with the report finding that one in 11 workers are employed in the sector in Madawaska and Restigouche counties.
“Almost every part of New Brunswick, from the largest cities to the smallest hamlets are positively impacted by the forest products industry in New Brunswick,” said David Campbell, President of Jupia Consultants. “And we use those forests as a driver of ongoing intergenerational economic benefits for the people of New Brunswick.”
The working forest supports communities while also working for climate and conservation goals, and a strong forestry sector supports strong local and regional economies. J.D. Irving, Limited is committed to sustainable forest management practices that will ensure the working forest continues to drive New Brunswick’s economy for generations to come.
The report was jointly commissioned by Forest NB and J.D. Irving, Limited and is available to read here.