Province profile
Newfoundland and Labrador
A resource-concentrated economy where offshore energy and fisheries dominate; the missing 2026 grade is worth watching rather than assuming either way.
Overview
Population
547,910
Local time
Internal-trade grade
Not graded
Net debt / GDP
44.7%
Worth knowing
Provincial revenue is unusually exposed to offshore oil royalties, which swing with global oil prices.
Population: Statistics Canada, as of 2026-04-01. Internal-trade grade: CFIB 2026 report card — Not graded in the 2026 report card due to a recent change in government — treat this as a data gap, not a poor score. Net debt/GDP: a compiled cross-provincial estimate, not a single official StatCan table — shown as a data gap for territories rather than assumed zero.
Economy & key industries
Primary sectors
Doing business here
Sales tax
HST 15%
Minimum wage
$16.35/hr, effective 2026-04-01
Corp. tax (small biz / general)
11.5% / 30%
Corporate registry
NL Registry of CompaniesEmployment standards
NL Labour Standards ActWorkers' compensation
WorkplaceNLExtra-provincial registration by business type
Assuming you're coming from another province with no physical presence in Newfoundland and Labrador yet — the most common starting point. Your actual answer depends on your specific presence and revenue; run the full lookup tool for that.
| Business type | Extra-provincial registration |
|---|---|
| Retail / e-commerce goods | Likely not required |
| Professional services | Likely not required |
| Regulated trades & licensing | Depends — confirm |
| Healthcare & medical professionals | Depends — confirm |
| Alcohol / cannabis DTC | Likely not required |
| Trucking & logistics | Likely not required |
| Food & beverage | Depends — confirm |
Trade & market access
Investment / trade office
Department of Industry, Energy and Technology (NL)Government tenders
Newfoundland and Labrador Public TendersLarger opportunities are routed through MERX (merx.com), a paid third-party service.
Liquor & cannabis authority
Newfoundland Labrador Liquor Corporation (NLC)Commercial transport authority
NL Department of Transportation and InfrastructureLive federal tender listings and business-registry search across all 13 jurisdictions are also on the Resources page.
AI research brief
Have Claude search reputable sources only — Statistics Canada, the Bank of Canada, provincial governments, major bank economics desks, established policy institutes, and wire/business press — for current context on Newfoundland and Labrador's economy and policy climate. Separate from the sourced dataset above.
Guidance snapshot: 2026-08-05. Broader review pending. Informational only — not legal advice.