Download - Exporting to Latin America · of Latin America, and their openness to •American business. We now export more than three times as much to Latin America as we do to China, and our

Market Overview:

No less a source than President Barack Obama recently said thisabout trade with Latin America, "That’s why, last year, I set a goalfor this country: to double our exports by 2014. And it’s a goalwe’re on track to meet. Part of the reason why is the rapid growthof Latin America, and their openness to American business. Wenow export more than three times as much to Latin America aswe do to China, and our exports to the region will soon supportmore than two million jobs here in the United States." Between1998 and 2011, Latin America was our fastest growingmerchandise trade (exports plus imports) region.

Export opportunities for Illinois companies:

The opportunities for trade in Latin America are as varied as thecultures. All indications are that export opportunities will continueto grow as the economies of the various target markets provideadditional disposable income for Latin America consumers.

Illinois' trade with Mexico exceeded $5.7 billion dollars in 2011.At the same time, 2011 Illinois exports to Brazil reached $2.5billion while exports to Chile reached $1.1 billion. This makesLatin America the number two geographic market for Illinoisgoods and services.

Top 5 Industries for 2011 Illinois Exports to Mexico,Latin America and the Caribbean:

• Machinery, except Electrical

• Transportation Equipment

• Chemicals

• Computer and Electronic Products

• Electrical Equipment, Appliances, and Components

Export challenges:

Our office in Mexico City is responsible for the entire LatinAmerican area, including some 44 countries. The Illinois Office ofTrade and investment is here to help companies navigate thechallenges of exporting to Latin American markets including:

• Establishing local distribution agents

• Optimizing export strategy to take advantage of existing freetrade zones

• Understanding local laws and regulatory oversight

Contact information: Enrico J. Doggett, Ph: 312-814-7295E-mail: [email protected]

Exporting to Latin America

http://exports.illinois.gov www.illinoisbiz.bizPrinted by the Authority of the State of Illinois 4/12 W.O. 12-070 IOCI 12-0737