Importing into South America6 April 2021
The Latin American market is developed to fuel an appetite for growth in the tech space.
Language barriers and Africa’s unfortunate reputation of generalized crime are just two of the many obstacles potential importers must overcome when seeking importing opportunities. While this is more of a concern for some countries than others, it is always advised you take out the best liability cover possible and ensure you are using the best carrier when shipping into Africa.
Overall, significant progress has been made to stabilize economies and encourage foreign investment in several African countries. These efforts have been largely successful, with imports and exports in Africa increasing in recent years. However, for many countries, import bills far exceed their export earnings. Consequently, strict import restrictions have been established, making the importing of non-essential goods difficult.
While Africa has the lowest number of internet connections of any continent, it also has the most potential for expansion. Showing more connectivity over the last decade than any other region, Africa’s long-term connection is expected to increase exponentially in the coming years, making it a promising prospect for further development in the import and export sectors.
Currently, import and export in Africa are prosperous, with Medical, Tech, and IT among the largest markets. The largest export and import partner for Africa is the EU followed by other African countries and China.
Do you have a specific African destination in mind? Learn more about the complexities of importing into African countries like Kenya.