FREDERICTON – The New Brunswick government is setting a bold target to diversify its export markets by increasing exports to countries outside the United States by nearly 16 percent by 2030. This initiative was announced by Premier Susan Holt during a press conference in Dieppe, New Brunswick.
The government aims to raise non-U.S. exports to $1.32 billion, marking an increase from $1.14 billion recorded in the previous year. Premier Holt emphasized the importance of this strategy, stating, “New Brunswick has what the world wants. We can’t rely on one market, but we can support our businesses to seize new opportunities and build strong relationships with trading partners.”
Asia is a significant focus of this new market diversification strategy, with specific attention on countries such as India, Japan, and South Korea as potential trading partners. Premier Holt is poised to lead a trade mission to Cambodia and South Korea later this month to explore these opportunities further.
Europe, particularly Germany and France, is also highlighted in the strategy. Plans are in place to establish a New Brunswick growth office within the European Union to support trade efforts; the province already has similar offices operating in India and France.
The New Brunswick government reports that over the last five years, the province has exported an average of $849 million annually to Asia, Europe, and the U.K. Of this amount, approximately $629 million was directed towards Asia, while exports to Europe have also been on the rise, indicating a growing interest in global markets.
Several sectors within New Brunswick are particularly poised for growth, including seafood, agriculture, advanced manufacturing, clean energy, forestry, and mining, all of which are experiencing heightened global demand. The government’s push for trade diversification is partly a response to the tariffs imposed by former U.S. President Donald Trump in early 2025, which heavily impacted traditional trading relationships and sectors such as forestry, seafood, and beer. As highlighted in last month’s throne speech, the pursuit of new export markets is a critical priority for the province.
The diversification strategy outlines support for businesses that are ready to export, as well as plans for more trade missions and promotional activities. Luke Randall, the minister responsible for the economic development agency Opportunities NB, remarked, “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.”
Additionally, the government is focusing on enhancing logistics and supply chain connections, identifying any potential trade bottlenecks. The enhancement of capacity and collaboration between major ports in Saint John and Belledune is also a priority to improve market access.
In another aspect of the expansion strategy, Premier Holt also expressed aspirations of boosting trade with the rest of Canada by an impressive 61 percent, targeting an increase to $22.1 billion by the year 2029.
Alongside these efforts, the province is committed to continuing initiatives aimed at reducing provincial trade barriers and strengthening domestic supply chains. This holistic approach is designed to position New Brunswick firmly in the global marketplace and foster economic growth in the province.
