A report released by the Entertainment Software Association of Canada (PDF) has revealed that Canada’s video game industry generated over CA$2.3 billion in gross domestic product (GDP) for the country’s economy in 2012.

Gross domestic product is a figure that represents the market value of all officially recognised final goods and services produced in a country within a certain time period. According to the report, the video game industry also generated a total of CA$1.7 billion in labour income for Canadian residents.

Prepared by Nordicity, the report outlines the size of Canada’s video game industry, and states that developers made up 97.4 percent of the revenue made by game firms. Approximately 2.5 percent was credited to game publishers, and 0.5 percent was attributed to “middleware development”.

The report indicates that “expenditures on video game development, which occur today, not only generate wages and GDP in the economy today, but also provide the foundation for higher economic growth in the future”.

Several game developers currently have studios in Canada, including BioWare, Electronic Arts, Ubisoft, and the newly formed Hinterland. Earlier this year, crowdfunding website Kickstarter begun accepting project submissions based in Canada.