New Brunswick aims to boost non-U.S. exports by 16 percent by 2030

Explainer

The New Brunswick government wants to increase the value of its exports to markets outside the United States by nearly 16 percent by 2030. Premier Susan Holt unveiled the target as part of a new market diversification strategy announced in Dieppe on Monday. The government aims to boost exports to non-U.S. markets to $1.32 billion, up from $1.14 billion last year. Holt said the province cannot rely on a single market and must support businesses to seize new opportunities.

"New Brunswick has what the world wants," Holt said in a statement. "We can’t rely on one market, but we can support our businesses to seize new opportunities and build strong relationships with trading partners." The strategy follows years of trade pressure since former U.S. president Donald Trump began imposing tariffs on traditional partners, including Canada, in early 2025. The province's forestry, seafood and beer sectors were hit hard, and finding new export markets was a key priority in last month's throne speech.

READ MORE: Canada and UAE sign trade and defence deals to diversify economic ties

READ MORE: Carney heads to Commonwealth summit to build ties, boost trade

Which regions is New Brunswick targeting?

Asia and Europe are the two main regions of focus for the province's export push. The plan specifically names India, Japan and South Korea as potential partners in Asia. Holt is planning a trade mission to Cambodia and South Korea later this month. The government says New Brunswick has sent exports worth an average of $849 million a year to Asia, Europe and the U.K. over the last five years, with about $629 million of that going to Asia.

Europe, especially Germany and France, is another area of focus. The strategy includes plans to open a New Brunswick growth office in the European Union. The province already has similar trade offices in India and France. The government says European exports are also growing. Sectors identified as having increased global demand include seafood, agriculture, advanced manufacturing, clean energy, forestry and mining.

What does the diversification plan include?

The new strategy includes support for export-ready businesses and plans for more trade missions and promotion. Luke Randall, the minister responsible for the economic development agency Opportunities NB, said the government will connect companies with market intelligence and trade opportunities. "By connecting companies with market intelligence, trade opportunities and the right partners, we can help turn their ambitions into measurable growth, investment and jobs here at home," Randall said in a statement. The government also aims to strengthen logistics and supply chain connections, including identifying trade bottlenecks. It wants to increase capacity and collaboration between the province's major ports in Saint John and Belledune to enhance market access. The plan includes continuing efforts to lower provincial trade barriers and to strengthen domestic supply chains.

What are the targets for trade within Canada?

Alongside the push for international markets, Holt wants to significantly boost trade with the rest of Canada. The target is to increase interprovincial trade by 61 percent to $22.1 billion by 2029. The province plans to continue efforts to lower internal trade barriers. This domestic focus is part of a broader effort to build more resilient supply chains and economic connections across the country. The announcement of the diversification strategy comes as Canadian provinces grapple with ongoing trade tensions with the United States. Nosy Mag reported earlier this month that Quebec's premier planned a diplomatic push with the U.S. following recent election results. New Brunswick's plan is its latest step to reduce economic reliance on its southern neighbour.

What is the context for this trade push?

The government has been working to diversify its trade since the U.S. tariff actions began in 2025. Finding new export markets was highlighted as a key priority in the provincial throne speech delivered last month. The new strategy formalizes that goal with specific financial targets and geographic focuses. The premier's upcoming trade mission to Cambodia and South Korea later this month will be one of the first actions under the new plan. Minister Luke Randall emphasized that the goal is to create growth and jobs within New Brunswick. The province's next concrete step is the trade mission to Asia planned for later this month.

With files from The Canadian Press, CityNews and Global News