Canada could add nearly $100 billion to its economy over the next decade by expanding exports of higher-value products, with agriculture and food processing among the sectors offering the greatest opportunities, according to an Export Development Canada (EDC) report.
Released last month, the report, From Resources to Resilience: How Canada Can Capture More Value Through Trade, argues that Canada needs to move beyond its traditional reliance on raw resource exports and focus on producing more sophisticated, higher-value goods and services.
EDC estimates that such a shift could conservatively add nearly $100 billion to Canadian GDP by 2035.
The report identifies agri-food, critical minerals, defence and aerospace as sectors particularly well-positioned to generate additional economic value.
For agriculture, the findings highlight opportunities to expand domestic processing and manufacturing rather than relying primarily on exports of raw commodities.
Greater investment in value-added agricultural production could allow Canada to capture more of the economic benefits associated with its abundant agricultural resources, while strengthening domestic industries and creating new export opportunities.
EDC's analysis found that the greatest economic gains could come from moving further into processing, refining and advanced manufacturing, allowing Canadian businesses to compete through more specialized products rather than raw materials alone.
EDC President and CEO Alison Nankivell said Canada's resource-rich economy provides a strong foundation for expanding higher-value exports.
"Our success as a trading nation has long been rooted in the strengths of our resource-rich economy," she said. "The opportunity is in scaling these capabilities to produce unique, complex products that give Canada a competitive advantage."
