When you have a company, one of the main goals is to export your products, however, the necessary information is not always available to fulfill this objective
and the opinion tends to be that it is a complicated process, preventing, in many cases the expansion of your business internationally.
According to that, we share with you the 5 steps to export your products to Latin America.
1- Know the behavior of the Latin American market
Shipments to the Chinese giant country have increased by 24.4%, above the United States and intra-regional shipments; being the main engine of exports from Latin America and the Caribbean.
On the other hand, exports to the European Union decreased significantly, with a deceleration of 15%. Even so, in the Caribbean there was an increase of 22.4%, in South America of 8.9% and in Mesoamerica of 10%.
Product exports such as soy, coffee and sugar, decreased by 4.1%, 4.3% and 16.4%, respectively; in addition, the deterioration of exports in 2018 was impressive since only 2% of the countries of Latin America and the Caribbean managed to increase them.
The Economic Commission for Latin America and the Caribbean (ECLAC), estimated a growth of only 1.5% in this 2019 due to the uncertain international scenario we face. They are indicators of a panorama that can help your business, giving you the necessary information to open international business and find new buyers and opportunities.
2- Know the HS Code of your product
Each merchandise has a numerical code included in the Harmonized System (SA), which is maintained by the World Customs Organization (WCO), in order to identify the products that are imported and exported, set their taxes, obligations and duties.
This code may have a minimum of 6 digits, which are those that are considered a partial tariff code and a broad category or chapter of products; or you can have 10 digits when you want a more specific product.
Having this information will allow you to analyze the behavior of your product in the international market and know what are the necessary requirements so that you can enter the markets of interest.
3- Identify which are the products with the highest export volume
If we talk about Mexico and its commercial relationship with the United States, we observe that by the end of last year, the export of cars with piston engines represented, according to MX Expansion, $ 22,536 million; likewise, the Aztec country exports memory units, flat screen televisions, among other products that should be considered.
This same exercise should be carried out with the countries that are of interest to be able to analyze their behavior within the market. So the most important thing is to know the value for money, with competitive strategies that adapt to the environment.
4- Have a competitive product
This may seem obvious, but it is something that should be taken into account and analyzed objectively, since if you do not have a competitive merchandise that meets the needs of the market in question, it is better to rethink your business model and think about options that can generate profits and not waste of time and money.
Therefore, before spending efforts and money on a product that will not generate the desired profits, you have to identify which are the markets interested in your type of merchandise, identify the companies that went by the same item, as well as their successes and failures, knowing the most important macro and microeconomic variables of the countries in question to reduce risks.
5- Use search engines to help you analyze the international market
Today we have at hand the tools we need to consult all kinds of information. Therefore it is important that you know which are the search engines that you can consult not only the tariff position of a certain product, but also identify which are the countries that are betting on their type of merchandise, their competition and the FOB value.
Do you want to have more information about this type of search engine and learn to increase your international sales? Enter here and not only can you get your free report, also analyze the market behavior, identify new suppliers and plan your business strategies at the lowest market price.