Canada's Population, Economic Weight Shifts West, BMO Says

MT newswire2026/10/06 10:47

06:47 AM EDT, 10/06/2026 (MT Newswires) -- With Quebec, British Columbia and Alberta heading to the polls in October, Canada's political calendar comes amid a growing shift in the country's demographic and economic weight toward the West, according to BMO Capital Markets in a note. Quebec's share of Canada's population has steadily declined, from 26% when the Parti Quebecois was elected in 1976 and just over 25% at the 1980 referendum to 23.6% in 1995 and 21.7% today, while its share of national gross domestic product has fallen below 20%, wrote BMO in a Monday note. By contrast, Alberta and B.C. have increased their combined share of Canada's population from 21.6% in 1980 to 26.5% today, overtaking Quebec in 1995, while their share of national GDP stood at 29% in 2024 and has likely risen further since, said the bank. Together, Quebec, Alberta and B.C. account for nearly half of Canada's population and GDP, underscoring the significant demographic and economic shifts the country has undergone over the past five decades, added the bank.

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