Québec, June 14, 2021. – In 16 of Québec’s 17 regions, non-residential tangible capital expenditure intentions for 2021 were higher than for 2020. This information comes from Investissements privés et publics, Québec et ses régions released today by the Institut de la statistique du Québec. This bulletin presents a regional breakdown by the Institut based on the results of Statistics Canada’s Annual Capital and Repair Expenditures Survey released on February 26, 2021.
Annual change in non-residential tangible capital expenditure intentions, all of Québec and administrative regions, 2021
Sources: Institut de la statistique du Québec, Statistics Canada, Ministère des Affaires municipales et de l’Habitation, Commission de la construction du Québec, Fisheries and Oceans Canada, and Ministère de la Santé et des Services sociaux. Adapted by the Institut de la statistique du Québec.
Sharp increases observed in several regions
For 2021, non-residential tangible capital expenditure intentions showed annual growth of more than 10% in seven administrative regions: Côte-Nord (+30.2%), Lanaudière (+18.2%), Centre-du-Québec (+17.9%), Montréal (+15.8%), Saguenay–Lac-Saint-Jean (+14.5%), Nord-du-Québec (+14.2%), and Abitibi-Témiscamingue (+10.3%).
Foreign investments declined, but Canadian investments increased
In Québec, majority foreign-controlled private businesses are expected to spend nearly $4.3 billion in private, non-residential tangible capital expenditures in 2021, a 6.8% decline from 2020. Spending intentions of Canadian-controlled private businesses (including those in Québec) amounted to $17.4 billion, up 11.7%.
For foreign-controlled businesses, the decline in 2021 should primarily be due to a decrease in spending by U.S.-controlled businesses based in Montérégie (-42.7%). Five other regions should also see a decline in spending by foreign-controlled businesses. In contrast, the Saguenay–Lac-Saint-Jean region should see the largest increase in spending by foreign-controlled businesses (+23.7%).
In 2021, spending by Canadian-controlled businesses should increase by 125% in the Côte-Nord region and by 21.1% in the Montréal region. For the Québec CMA, the increase in spending should stand at 11.4%.
Capital or investment expenditures
Expenditures made to acquire new durable assets that provide an economic benefit to the owner. They are divided into the following: tangible capital assets (buildings, engineering work, equipment and tools), intangible capital assets (software, research and development, oil, gas and mineral exploration, etc.) and financial capital assets (shares, bonds, loans, receivables, etc.). They do not include the purchase of land, existing buildings, and second-hand equipment or tools (unless they have been imported).
You can consult several other investment data for all of Québec, administrative regions and CMAs on the Institut’s website.
The Institut de la statistique du Québec produces, analyzes and disseminates official, objective and quality statistical information on various aspects of Québec society. It is responsible for conducting all statistical surveys of general interest. The relevance of its work makes it a strategic ally for decision makers and all those wishing to learn more about Québec.