New Brunswick's urban areas have modern, service-based economies dominated by the health care, educational, retail, finance, and insurance sectors. These sectors are reasonably equitably distributed in all three principal urban centres. In addition, heavy industry and port facilities are found in Saint John; Fredericton is dominated by government services, universities, and the military; and Moncton has developed as a commercial, retail, transportation, and distribution centre with important rail and air terminal facilities.
The rural primary economy is best known for forestry, mining, mixed farming, and fishing.
Forestry is important in all areas of the province but especially in the heavily forested central regions. There are many sawmills in the smaller towns and large pulp and paper mills located in Saint John, Atholville, Miramichi, Nackawic, and Edmundston.
Heavy metals, including lead and zinc, are mined in the north around Bathurst. One of the world's largest potash deposits is located in Sussex; a second potash mine, costing over a billion dollars, is in development in the Sussex region. Oil and natural gas deposits are also being developed in the Sussex region.
Farming is concentrated in the upper Saint John River valley (in the northwest portion of the province), where the most valuable crop is potatoes. Mixed and dairy farms are found elsewhere, but especially in the southeast, concentrated in the Kennebecasis and Petitcodiac river valleys.
The most valuable fish catches are lobster, scallops and king crab. The farming of Atlantic salmon in the Passamaquoddy Bay region is an important local industry.
The largest employers in the province are the Irving group of companies, several large multinational forest companies, the government of New Brunswick, and the McCain group of companies.
Read more about this topic: New Brunswick
Other articles related to "economy":
... Interest and Money that lower aggregate expenditures in the economy contributed to a massive decline in income and to employment that was well below the average ... In such a situation, the economy reached equilibrium at low levels of economic activity and high unemployment ... to keep people fully employed, governments have to run deficits when the economy is slowing, as the private sector would not invest enough to keep production at the normal level and ...
... During its history Quincy has been known as a manufacturing and heavy industry center, with granite quarrying dominating employment in the 19th century and shipbuilding at Fore River Shipyard and Squantum Victory Yard rising to prominence in the 20th century ... The recent decades have seen a shift in focus to several large employers in the financial services, insurance and health care sectors of the economy ...
... The war furthered the decline of the Iranian economy that had begun with the revolution in 1978–79 ...
... Copper mining is an important part of the economy of Katanga province ... Cobalt mining by individual contractors is also prevalent ...
... Scotland has a western style open mixed economy that is closely linked with the rest of Europe and the wider world ... Traditionally, the Scottish economy has been dominated by heavy industry underpinned by the shipbuilding in Glasgow, coal mining and steel industries ... saw a shift from a manufacturing focus towards a more service-oriented economy ...
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (18171862)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (18031882)
“The aim of the laborer should be, not to get his living, to get a good job, but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (18171862)