With its close proximity to Canada and Mexico, most United States exporters export to only one market and unsurprisingly this market is usually Canada. However, many smaller companies that work with the U.S. Commercial Service have found other great markets filled many new customers. Some of the best markets with countless opportunities for U.S. companies are Vietnam, India, Indonesia, India, China, Taiwan and Thailand. You can learn more about these markets by watching these videos on India, Indonesia, and Vietnam posted on the Export.gov website. With these videos, you will learn about some of the many sectors in these markets where U.S. companies are competitive. In the videos, you will also be introduced to the top U.S. commercial diplomats in these markets who will help your company evaluate and enter exciting new markets.
Here is some additional information on the markets discussed in the videos. India, with its increased urbanization, is seeing rapid economic growth and a growing middle class. Economic growth is expected to reach an annual rate of 8 percent through 2015. Over the past several years, U.S. exports to India have quadrupled, growing to more than $16.4 billion. The largest potential for investments in India lies in its need for infrastructure development to continue the country’s rapid growth.
With the world’s fourth largest population, Indonesia has Southeast Asia’s largest economy and its economy is predicted to grow by 8 percent in 2011. Indonesia’s location on major trade routes and its extensive natural resources makes Indonesia a top market for U.S. agricultural products. Vietnam, another emerging market, also offers many opportunities for U.S. exporters and investors. The economic growth rate in Vietnam has been among the highest in the world expanding at an average of 7.2 percent per year. United States exports to Vietnam are continuing to increase each year with a 19.8 percent growth in 2010.
To find out more about these priority markets for exporting, check out the videos posted at Export.gov!