CBoC studies suggests community pharmacies contribute $16B to national GDP

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NBHC Sustainability
July 12, 2018

The Conference Board of Canada (CBoC) estimates the economic output from the country's 10,500 community pharmacies at $16.1 billion, pegging the fiscal benefits to governments from the sector at $1.6 billion in 2016. Provincially, Ontario's community pharmacy industry's contributions to the economy was $6.3 billion, followed closely behind by Quebec ($2.9 billion) and Alberta ($2.6 billion). In New Brunswick, the 230 community pharmacies had an estimated total economic footprint of the pharmacy sector (direct, indirect, and induced effects) was over $530.4 million in GDP and 7,400 jobs. Additionally, it was estimated that the pharmacy sector in the province generated a combined $49.6 million in fiscal benefits to all levels of government in 2016. CBoC outlined the economic footprint of the community pharmacy sector in a series of reports for each province:

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