The Americas’ markets offer growing opportunities for British businesses trading internationally, so it’s no surprise that British exports to this part of the world are continuing to increase. To help you get started and settled in key regional markets, DHL offers country-specific destination advice.
Here is our overview of Trading with the Americas – snapshots of the region’s different economies.
As the Americas’ regional economies are at a range of developmental levels, it’s helpful to tackle them as blocs when doing business with the region:
The G7s – US and Canada
The Group of 7 brings together the world’s most advanced economies as per the International Monetary Fund’s rankings. The UK is a key member of G7, and works closely with the US and Canada – Britain’s main political and trade partners in the Americas.
We have destination fact sheets and special guide to Trading with the USA, as well as top tips from the DHL Customs Team to make help make trading with the USA and Canada even straightforward and rewarding.
The BRIC – Brazil
The BRIC countries – Brazil, Russia, India and China – were predicted to dominate the world economy by 2050. Though this is unlikely to happen in the way it was originally envisaged, the countries are nonetheless playing an increasingly important role in global economics. Brazil, for example, is Latin America’s largest economy and has outstanding international trade connections; the British government is aiming for UK-Brazil trade to be worth £4 billion by 2015.
Review our destination fact sheet and Customs advice tips for further market insights.
The Pacific Pumas – Mexico, Colombia, Peru and Chile
Compared to the MINT, BRIC and CIVETS economies, the Pacific Pumas were grouped together quite recently. The term was developed by political economist Samuel George, whose paper ‘The Pacific Pumas: An Emerging Model for Emerging Markets’ was released earlier in 2014.
Bordering the Pacific Ocean gives the Pumas unique access to the markets of Asia and Oceania. The countries also share positive growth, stable macroeconomic foundations, improving governance and they are very open to global integration.
Mexico, which is also classified as a MINT economy, is coming closer to closing its income gap with the USA and by 2050 may achieve a per capita GDP comparable to Japan.
CIVETS Colombia has experienced fundamental economic and political improvements over the last fifteen years and is currently hoping to join the OECD.
As a result of strong natural resource management and fiscal and economic reforms with a focus on free trade, Peru’s GDP has practically doubled since 2005; the UK is the second-largest foreign investor in Peru.
Chile, the UK’s second-largest export destination in Latin America, has the highest regional per capita GDP. Chile’s economy is very open: 22 trade agreements cover more than 60 countries and blocs.
If you have any questions about trading with the Americas, or would like to share your experiences in the region, just leave a comment below or tweet us.