As International shipping continues to shift, the industry can soon see Canada leading the BRICS economy. BRICS is a group of emerging economies comprising ten countries, including Brazil, China, Russia, India, and others. Over the last few years, the BRICS market has expanded, now accounting for 40% of the global economy. Although Canada is not a part of BRICS, Canada’s largest trading partners are in the group, including China and India. As Canada continues to expand its trade, the concurrent growth of BRICS countries may significantly impact shipping. How Is Canada Leading The BRICS Economy? While not being a member of BRICS, Canada’s primary exports are to countries in the bloc. A popular commodity that Canada exports is wheat, and it is the world’s third-largest shipper. With Canada as a major trader in BRICS, the country could soon account for 44% of the world’s grain consumption. Canadian exporters also benefit from fast-growing consumer markets in energy, critical minerals, and...
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