Canada could generate about $146 billion in additional non-U.S. export growth by 2035 if it expands infrastructure, processing capacity and transportation links to reach markets beyond the United States, according to a new report from PwC Canada.
The report says energy, metals and minerals, and agri-food are the sectors best positioned to benefit from greater export diversification, but says Canada will need more investment and commercial capacity to capture the potential growth.
The analysis comes as global trade becomes increasingly organized around blocs and trusted trade corridors. PwC says Canada's opportunity will depend on its ability to expand transportation, logistics and processing capacity while connecting Canadian products with new international buyers.
"Canada has the products the world is looking for, but demand alone will not create growth," said Michael English, Transportation and Logistics leader at 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."
PwC's report, New markets, new routes for Canadian logistics, identifies potential export growth by sector between 2025 and 2035 under a baseline scenario and a scenario in which Canada's policy ambitions are achieved.
Energy products had exports outside the U.S. valued at $29.47 billion in 2025. PwC projects that figure could reach $84.47 billion by 2035 under baseline growth, or $106.31 billion if the policy ambitions outlined in the report are achieved.
Metal and non-metallic mineral products were valued at $55.74 billion in 2025 and are projected to reach $61.84 billion under baseline growth, compared with $98.33 billion if the policy ambitions are achieved.
Agri-food products were valued at $30.78 billion in 2025. The report projects exports could reach $56.58 billion by 2035 under baseline growth and $82.65 billion under the higher-growth scenario.
Other products are projected to rise from $35.47 billion in 2025 to $41.85 billion under baseline growth and $60.16 billion under the policy-ambition scenario.
The report also projects metal ores and non-metallic minerals could reach $56.52 billion by 2035 under the higher-growth scenario, compared with $39.92 billion under baseline growth.
Consumer goods could rise from $18.48 billion in 2025 to $30.86 billion under baseline growth and $46.88 billion if the policy ambitions are achieved.
Aircraft and motor vehicle exports could reach $24.65 billion under the higher-growth scenario, compared with $15.85 billion under baseline growth, while forestry exports are projected at $9.76 billion and $7.88 billion, respectively.
PwC identifies energy, mining, metals and minerals as the largest strategic opportunity. It says Canada is positioned to meet demand for LNG, oil, critical minerals and metals, but limited export capacity, processing and port handling could constrain growth.
The report says investment in terminals, processing capacity, specialized port equipment and long-term offtake agreements could help expand Canada's access to international markets.
Agriculture and food products are identified as another significant opportunity, with the report projecting the sector could reach $82.65 billion in non-U.S. exports by 2035 under the higher-growth scenario.
PwC says growth in the sector will depend on expanding processing capacity, modernizing grain and food handling, strengthening the resilience of transportation corridors and improving access to Europe and other growth markets.
The report says Canada's diversification strategy will also require greater alignment between public policy, private capital and global buyers around projects that expand transportation, logistics and processing capacity.
It points to east-west trade routes, ports, inland gateways and intermodal connections as increasingly important to Canada's ability to diversify its export markets.
PwC says the potential $146 billion in additional growth represents an opportunity for faster investment in trade-enabling infrastructure, logistics, processing capacity and partnerships.