Importing into South America6 April 2021
The Latin American market is developed to fuel an appetite for growth in the tech space.
In terms of landmass, Oceania is the smallest continent but consists of countries that span a massive section of the planet. This, along with the vast distances between countries and its remote location in relation to the rest of the world, are what defines trade for the region. Although airfreight and the impact of globalization have narrowed the gap substantially in recent years, many pacific Islands still pose a challenge for potential importers. One of the main challenges for this region is the strict limitation on cargo size. This is a necessary restriction as landmass is so limited in many of these islands that runways are very short and are only sufficient for smaller aircrafts. This can make freight costs a serious consideration in this region.
Although the continent is home to the smallest percentage of the world’s population, the nominal GDP per capita is the highest in the world. Among the region’s top imports are electrical machinery, Medical, and Tech equipment.
Oceania has some of the highest-ranking countries on the Transparency International Corruption Perception Index and business-friendly index. Considered lower risk with a high demand for global goods the region has a flourishing appetite for international trade. These factors combined with a stable economy and consistent growth in the region’s Tech markets make it a strong trade destination for international investors.
Do you have a specific destination in mind? Learn more about the complexities of importing into countries in this region like Australia.