A new report reveals that Alberta has captured an additional 8% of Canada’s market cap due to growth in the oil and gas business.

The finding is in the latest edition of the Alberta Capital Market report. The aggregate market cap of companies listed on the TSX and TSX Venture Exchange has grown by 60% (from $1.17 trillion to $1.88 trillion) since the initial 2004 report.

The aggregate market cap of Alberta-based companies listed on the two exchanges has grown 135% (from $210 billion to $494 billion), so 40% of the growth in market cap is attributable to Alberta-based companies.

The largest provincial markets, measured by market cap, are Ontario at 42% – down 3% from the 2004 report, Alberta at 26% (up 8%), Québec at 12% (down 2%), and BC at 6% (up 1%).

Alberta also has the third largest number of publicly listed companies after Ontario and BC. Alberta is second to Ontario with respect to the number of TSX listed companies and third after both BC and Ontario with respect to TSXV listed companies. In 2004, Alberta was second after BC on the TSXV.

The oil & gas industry is now the most significant industry in Canada, up from third in 2004, after financial services and industrial/manufacturing. And it is by far the most significant industry in Alberta, almost seven times bigger than the utilities & pipelines industry, the report finds. 44% of Alberta-based companies are engaged in oil & gas, representing 76% of the market cap in Alberta.

In the country overall, 12% of all public companies are energy firms, representing 29% of the aggregate market cap. The mining industry accounts for 34% of the number of listings, although only 11% of the market cap. Income trusts represent almost 10% of the aggregate market cap in Canada and 6% of the listings, notes the report adds.