10 Growing Best Export Markets for Small Businesses
10 Growing Best Export Markets for Small Businesses. Export local products to international markets and diversify your revenue stream and business operations
Exporting local products to international markets allow small businesses to add a reliable revenue stream for their business activities in addition to the vital economic contribution. Tapping the potential fast growing international markets serve ample opportunities to small business entities seeking business expansion beyond their home borders.
Best Export Markets for Small Businesses
Here are 10 of the best targeted international best export markets with high growth potential for small businesses.
The most populous country in South America Brazil has vast business opportunities. In the preceding year Brazil marked a solid economic growth of 3.11% while the GDP Growth remained 15.27%.
Brazil is hosting two of the biggest sporting events in the world i.e FIFA World Cup 2014 and Olympics 2016 that has triggered the need for huge investments in Information Technology and Transportation Infrastructure. Brazil remains one of the best export market in 2012.
Key Industries:- Agricultural Yield Processing Equipment, Consumer Goods, IT Products and Provision of IT related services.
The emerging economic power from Asia Indonesia is a hot market for exporting local products and services. The fourth most populous country Indonesia registered the economic growth of 8.5% last year however some lapses in the regulatory environment and immature infrastructure makes conducting business expensive.
Key Industries:- Educational and Professional Training Services, Financial and Banking Services, IT related products and services.
The Western Africa country Nigeria had GDP Growth of 8.4% and aims to make it into top 20 world economies by 2020. Although the economy is developing yet the alarming social evils such as crime rate and fraud are hindering the way towards success. Another disadvantage is the weak transportation and energy infrastructure. Despite all the cons Nigeria is the third best export market to target.
Key Industries:- Automotive Parts, Financial Consultancy Services, Health Care Services.
The South American country Colombia has transitioned from a regulated market to a free market suitable for International Investors. With an average economic growth of almost 4.9% last year Colombia is a lucrative market to export your products.
Key Industries:- Data Storage and Processing Equipment and related IT Services, Security Equipment, Systems and Services, Transportation Equipment and Services.
The North American Country Mexico has proximity to the USA and is one of the largest importer of foreign goods and services. With huge demands for international products and high growth potential we rank Mexico among the best export markets.
Key Industries:- Housing and Construction, Packaging and Plastics, Consumer Goods, Tourism related Services.
6- South Africa
One of the most developed countries in Africa South Africa offers a business friendly environment along with a mature infrastructure. The GDP Growth remained at 2.78% yet South Africa has high demands for foreign goods and services.
South Africa has a lot of advantages such as modern and reliable infrastructure, sound regulatory environment, mature markets and rising standards of living which make South Africa one of the best export markets in the world.
Key industries:- IT related Services and Equipment, Transportation, Franchises of popular International Brands.
The developing North African country Morocco recorded GDP Growth of 3.15% last year. The advantages of tapping the markets in Morocco includes low labor costs and high demands for reliable international products.
Key Industries:- Renewable Energy, Water Treatment Systems, Construction Equipment and Services, Security Systems, Equipment and related Services.
The emerging Asian economic power Vietnam registered GDP growth of
6.78% in the preceding year. Vietnam is a developing country with increasing demands for high quality innovative products but certain factors such as weak regulatory environment, corruption and Copyright Infringement cause disturbance. Despite all the buzz Vietnam is a promising market for exporting goods and services.
Key Industries:- IT Hardware and Software, Plastic Equipment and Products, Education Services, Waste Water Treatment.
The half Asian and half European country Turkey is one of the most lucrative market for exporters. Turkey marked GDP Growth of 8.2% last year and with the politically stable and business friendly environment Turkey remains a hot market for exporting local products.
The improving infrastructure, rising standards of living and some other notable factors Turkey is a lucrative export market for new entrants.
Key Industries:- Consumer Goods and Tourism related Products and Services.
The South Asian Country India is a rapidly developing economy but yet social evils such as conspiracies, crime rates, corruption, extortion, resources outages, pollution, injustice, illiteracy, poverty, incompetent labor etc are unsuitable for international investors. The GDP Growth was 14.4% in the preceding year but some more disadvantages include weak transportation infrastructure, inflation, bribery, high tariffs, nepotism, weak regulatory environment and security threats.
India is the second most populous country in the world and the rising standards of living make it one of the best export markets to tap in 2012.
Key Industries:- Textile Industry, Electronics, Pollution Control Services, Education and Consultancy Services.
Have your say regarding the best export markets in the comments section below.