HOT EXPORT MARKETS FOR SMALL BUSINESS
Colombia
Over the past 15 years, the third largest South American economy has transitioned from being highly regulated to a free market, with an expanding middle class and estimated 4.9 percent 2011 economic growth. A free trade agreement, signed into law in October 2011, has sparked a flurry of trade missions and a growing focus on finding new ways to do business with U.S. companies.
Over the past 15 years, the third largest South American economy has transitioned from being highly regulated to a free market, with an expanding middle class and estimated 4.9 percent 2011 economic growth. A free trade agreement, signed into law in October 2011, has sparked a flurry of trade missions and a growing focus on finding new ways to do business with U.S. companies.
Promising markets: Security services and equipment, transportation consulting and technology, data processing equipment and services.
India
India is an emerging market with a big appetite for U.S. goods and services. A young population with a median age of 25, India has a middle class that the U.S. State Department estimates will increase tenfold by 2025. Challenges in this market include high tariffs, multiple languages and cultures, and poor transportation infrastructure.
India is an emerging market with a big appetite for U.S. goods and services. A young population with a median age of 25, India has a middle class that the U.S. State Department estimates will increase tenfold by 2025. Challenges in this market include high tariffs, multiple languages and cultures, and poor transportation infrastructure.
Promising markets: Education services, industrial textiles, food processing and cold storage equipment, electronics, and clean energy and pollution control equipment.
Indonesia
The largest economy in Southeast Asia and the world's fourth-largest population -- half of which is under age 30 -- Indonesia had estimated economic growth of 8 percent last year. A top-10 market for U.S. agricultural products, the country is a thriving democracy with a trend toward deregulation. However, the regulatory environment remains daunting, and infrastructure inadequacies can make it expensive to do business.
The largest economy in Southeast Asia and the world's fourth-largest population -- half of which is under age 30 -- Indonesia had estimated economic growth of 8 percent last year. A top-10 market for U.S. agricultural products, the country is a thriving democracy with a trend toward deregulation. However, the regulatory environment remains daunting, and infrastructure inadequacies can make it expensive to do business.
Promising markets: IT products and services, financial and banking services, clean energy and education and professional training.
Mexico
Part of the North American Free Trade Agreement, Mexico has long been a trading partner with the U.S. and represents the second largest export market for American products. Trade between the two countries averages more than $850 million per day. The U.S. Commerce Department recommends retaining a lawyer before making agreements with Mexican partners because the legal system is different from that in the U.S.
Promising markets: Consumer products, packaging and plastics, tourism and tourism-related services, and housing and construction.
Part of the North American Free Trade Agreement, Mexico has long been a trading partner with the U.S. and represents the second largest export market for American products. Trade between the two countries averages more than $850 million per day. The U.S. Commerce Department recommends retaining a lawyer before making agreements with Mexican partners because the legal system is different from that in the U.S.
Promising markets: Consumer products, packaging and plastics, tourism and tourism-related services, and housing and construction.
Morocco
Morocco was the first African country to reach a trade agreement with the U.S. and is becoming an important player in the North African market. This year, its economy is projected to grow 5 percent. Its proximity and relatively low labor costs have made it attractive to European companies, which use it as a hub for their African sales and operations.
Morocco was the first African country to reach a trade agreement with the U.S. and is becoming an important player in the North African market. This year, its economy is projected to grow 5 percent. Its proximity and relatively low labor costs have made it attractive to European companies, which use it as a hub for their African sales and operations.
Promising markets: Renewable energy, water treatment, building construction and safety and security equipment.
Nigeria
This western Africa country--the continent's most populous--is responsible for 40 percent of all goods imported into the region. It boasted an impressive 2009 GDP growth rate of 6.1 percent and has set the goal of becoming one of the top 20 economies in the world by 2020. Demand for American products is strong, but it's still wise to work with government officials or experienced professionals there because of the crime rate, the potential for fraud, and inadequate energy and transportation infrastructure.
This western Africa country--the continent's most populous--is responsible for 40 percent of all goods imported into the region. It boasted an impressive 2009 GDP growth rate of 6.1 percent and has set the goal of becoming one of the top 20 economies in the world by 2020. Demand for American products is strong, but it's still wise to work with government officials or experienced professionals there because of the crime rate, the potential for fraud, and inadequate energy and transportation infrastructure.
Promising markets: Health-care services and equipment, automotive parts, marine vessels and financial services.
South Africa
South Africa is a broad-based, growing economy that accounted for 31 percent of sub-Saharan Africa's GDP in 2010. The country is an attractive market for many businesses because of its stable banking system, as well as a maturing infrastructure and business-friendly environment.
South Africa is a broad-based, growing economy that accounted for 31 percent of sub-Saharan Africa's GDP in 2010. The country is an attractive market for many businesses because of its stable banking system, as well as a maturing infrastructure and business-friendly environment.
Promising markets: Transportation consulting and services, franchises in various sectors, and IT consulting and equipment.
Turkey
U.S. exports to Turkey increased 40 percent between 2009 and 2010, with strong growth expected to continue. A longtime U.S. ally and charter member of the North Atlantic Treaty Organization, Turkey's economy grew an estimated 4.6 percent last year. It is a politically and financially stable country that has applied for membership in the European Union.
U.S. exports to Turkey increased 40 percent between 2009 and 2010, with strong growth expected to continue. A longtime U.S. ally and charter member of the North Atlantic Treaty Organization, Turkey's economy grew an estimated 4.6 percent last year. It is a politically and financially stable country that has applied for membership in the European Union.
Promising markets: Tourism-related products and services and consumer products.
Vietnam
While large growing economies like Brazil and China get the attention, Vietnam continues to grow steadily outside the spotlight--an estimated 5.8 percent last year. But there are a number of business challenges, including an evolving regulatory environment, corruption and insufficient protection of intellectual property rights.
While large growing economies like Brazil and China get the attention, Vietnam continues to grow steadily outside the spotlight--an estimated 5.8 percent last year. But there are a number of business challenges, including an evolving regulatory environment, corruption and insufficient protection of intellectual property rights.
Promising markets: Plastics equipment and machinery, education services, IT hardware and software, franchises and waste water treatment.
DO YOU KNOW ANY COUNTRY/ MARKET YOU WANT TO ADD?
PLEASE DO KEEP THE COMMENTS COMING
ReplyDelete