Mon . 20 Aug 2020
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Economy of Manitoba

population of manitoba 2018, the economy of manitoba
The economy of Manitoba is a market economy based largely on natural resources Agriculture, mostly concentrated in the fertile southern and western parts of the province, is vital to the province's economy Other major industries are transportation, manufacturing, mining, forestry, energy, and tourism

The province's economic history dates to before European contact, and was originally based on a First Nations trading network European traders arrived in the 17th century and organized a trans-Atlantic fur trade Agricultural settlers arrived in the early 19th century, and Manitoba became a province of Canada in 1870

Economic history

Red River cart train

Manitoba's early economy depended on mobility and living off the land Aboriginal Nations Cree, Ojibwa, Dene, Sioux and Assiniboine followed herds of bison and congregated to trade among themselves at key meeting places throughout the province After the arrival of the first European traders in the 17th century, the economy centred on the trade of beaver pelts and other furs Diversification of the economy came when Lord Selkirk brought the first agricultural settlers in 1811, though the triumph of the Hudson's Bay Company HBC over its competitors ensured the primacy of the fur trade over widespread agricultural colonization

HBC control of Rupert's Land ended in 1868; when Manitoba became a province in 1870, all land became the property of the federal government, with homesteads granted to settlers for farming Transcontinental railways were constructed to simplify trade Manitoba's economy depended mainly on farming, which persisted until drought and the Great Depression led to further diversification

Modern economy

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