Canada’s top oil- and gas-producing province is expected to score the nation’s strongest comeback this year on improved commodity prices after taking the biggest dive in 2020 driven by the Covid-19 pandemic, according to a new report.

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As measured in 2012 dollars, the “real” trend yardstick used by the Conference Board of Canada, Alberta’s gross domestic product (GDP) fell by 7.8% to C$320 billion ($256 billion) last year. For 2021, the board forecasts a 7.2% recovery to C$343 billion ($274.4 billion).

As recorded by the conference board’s current dollar accounts, Alberta rode a wild economic roller coaster after a “double whammy” of collapsing energy prices and Covid-19 hit early in 2020. In current dollars, Alberta’s GDP plunged by 11.5% to C$312 billion ($250...