 In 2005 the gross domestic product (GDP) of Newfoundland and Labrador was approximately fourteen billion dollars.Service industries accounted for over $8 billion and resource-based activities such as mining, oil production, fishery and forest-based industries (sawmills and paper mills) accounted for the remainder.Mines in Labrador, the iron ore mine at Wabush/Labrador City, and the new nickel mine in Voisey's Bay produced a total of $2.5 billion worth of ore in 2006.