Choosing the right markets
Deciding which markets to export to is essentialContact us
Choosing the correct region is vital to the success of your exporting ambitions.
Brexit has caused some uncertainty between the UK and EU countries and this is certainly due to continue in the short term. However, the proximity of the region and scale of the market means Europe is always likely to remain an important market for UK businesses.
When considering this region, understanding the most suitable country is important as the breadth of the region means differing economies across the zone. Growth in larger member states is expected to be low whilst emerging markets in Eastern Europe are expected to grow at a slightly faster pace.
The Americas present a diverse and varied market opportunity and should be researched thoroughly on a local level in order to understand where the greatest opportunity lies.
USA – The size and broad sector base provides plenty of opportunities, however exporters face tough competition to export to the United States. It can be helpful to research the country as the sum of a number of smaller semi-autonomous markets rather than as one large entity.
Canada – The country is rich in natural resources and strong across mining and energy. It also has a well developed clinical research infrastructure and strong biotechnology sector. It is also a centre of scientific discovery.
Latin America – Whilst under challenging economic conditions, this region possesses great potential as an export market. A strong consumer and industrial base in countries like Brazil, Argentina and Mexico has enabled strong UK export performance in Pharmaceuticals, machinery and beverages.
Asia is the fastest growing economic region in the world. China economic growth is slowing due to government initiatives to encourage domestic consumption but growth is still higher than most countries and is an attractive prospect for UK business.
The increase of middle class in the region has increased demand for consumer goods and other market sector opportunities include education, military equipment, renewable energy and ICT.
Middle East and North Africa
Growing development and prosperity in the region, despite much turmoil means there is opportunity for exporters. An economy dominated by oil often means you may need to focus on oil exporting states. You will find these areas demonstrate growing population- figures and large investments in infrastructure which presents new opportunities.
A relatively poor region but prospects are now positive after a period of slower growth. Growing prosperity is likely to mean increased demand for imports. There are challenges in doing business within parts of Africa but infrastructure, energy, water and sanitation, agriculture and education are just some of the areas where opportunities could arise and successes could be had.
South Africa is a vibrant economy and the Department of International Trade has identified that key opportunities lie in areas such as agri-technology, advanced engineering and design, construction, rail, chemicals, mining, education, healthcare and financial services.
Further help with exporting
The DiT secure UK and global prosperity by promoting and financing international trade and investment, and championing free trade.
Thousands of businesses have increased their sales, growth and stability by selling overseas. Explore the potential of exporting with guidance, services and support from the Department for International Trade.