Export diversification could unlock approximately $146 billion in additional non-U.S. growth by 2035: PwC Canada's new report

Energy, minerals and agri-food are best positioned to lead Canada's next phase of trade growth, but investment in infrastructure, processing capacity and export corridors will determine whether Canada captures the opportunity

• Key Canadian sectors could generate approximately $146 billion Cdn in additional non-U.S. export growth beyond the baseline growth path by 2035.
• Canada's diversification opportunity is a national competitiveness story: demand exists, but capital, infrastructure and commercial capacity must scale to reach new markets.
• Opportunity for faster investment in trade-enabling infrastructure, logistics, processing capacity and partnerships.

TORONTO, Aug. 24, 2026 /CNW/ -- As global trade fragments into blocs and trusted corridors, Canada has a significant opportunity to diversify exports beyond its historical reliance on the United States, according to a new PwC Canada report, New markets, new routes for Canadian logistics. The report finds that with the right investment in transportation, logistics and processing capacity, key Canadian sectors could generate approximately $146 billion in additional non-U.S. export growth by 2035.

The report identifies where global demand is likely to grow over the next decade, which Canadian sectors are best positioned to benefit, and what Canada needs to build or finance to reach those markets. It points to energy, metals and minerals, and agri-food as the clearest opportunities because they can reach broader global buyer pools and are less dependent on integrated North American production networks than many manufactured goods.

"Canada has the products the world is looking for, but demand alone will not create growth," said Michael English, Transportation and Logistics leader, PwC Canada. "The next decade will be defined by whether Canada can move quickly enough to build the infrastructure, processing capacity, export corridors and commercial relationships needed to reach new markets."

The report notes that as governments reshape trade flows through industrial policy and companies prioritize resilience over pure efficiency, Canada's growth opportunity is increasingly tied to east-west trade routes, ports, inland gateways and intermodal connections. It finds that unlocking that growth will require aligning public policy, private capital and global buyers around investable projects that expand transportation, logistics and processing capacity across priority sectors.

Projected non-U.S. export growth by sector, 2025–2035

Product	Value of export in 2025	Projected value in 2035 with baseline growth	Projected value in 2035 if Canada's policy ambitions are achieved
Energy products	$29.47B	$84.47B	$106.31B
Metal and non-metallic mineral products	$55.74B	$61.84B	$98.33B
Agri-food products	$30.78B	$56.58B	$82.65B
Other products	$35.47B	$41.85B	$60.16B
Metal ores and non-metallic minerals	$23.01B	$39.92B	$56.52B
Consumer goods	$18.48B	$30.86B	$46.88B
Aircraft and motor vehicles	$12.57B	$15.85B	$24.65B
Forestry	$8.18B	$7.88B	$9.76B

Key sector opportunities and constraints

• Energy, mining, metals and minerals: This is the largest strategic opportunity, with energy products projected to reach $106.31B by 2035 and minerals-related categories also showing significant upside. Canada is well positioned to meet allied demand for secure LNG, oil, critical minerals and metals, but limited export capacity, processing and port handling could hold growth back. Investment in terminals, processing capacity, specialized port equipment and long-term offtake agreements can help turn Canada's resource advantage into market share.
• Agriculture and food products: Agri-food products are projected to reach $82.65B by 2035, making this one of Canada's most actionable near-term diversification opportunities. Canada already exports at scale and is trusted for quality, traceability and food safety, but growth will depend on expanding processing capacity, modernizing grain and food handling, strengthening corridor resilience and improving access to Europe and other growth markets.

The full report is available at  https://www.pwc.com/ca/en/industries/transportation-logistics/canadian-logistics.html

About PwC Canada

At PwC Canada, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We're a tech-forward, people-empowered network with more than 6,500 partners and staff in offices across the country. Across audit and assurance, tax and legal, deals and consulting, we help build, accelerate and sustain momentum. PwC refers to the Canadian member firm and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Find out more by visiting us at: http://www.pwc.com/ca.

SOURCE PwC Management Services LP

Media contact: Anuja Kale-Agarwal, National Communications Director, PwC Canada, [email protected]