The Dominican Republic is considered by many the jewel of the Caribbean, and for good reason. The country is neighbors with Haiti which lies to the West side of the Island of Hipsaniola which both countries share. Dominican Republic is a beautiful amalgamation of Savannah, rainforests and highlands offering the best of all these worlds to tourist who flock there for the beaches and exceptional golf courses. But, beautiful resorts aren’t the only things the country is known for.
Revenue from trade in Colombia made up over 34% of the country’s GDP in 2017 and their international trade has been growing and multiplying by five according to the World Bank. The country mainly trades with the United States, Germany, Panama, China, Brazil and the Netherlands. They have also signed several trade agreements with the U.S., MERCOSUR countries which are mainly Central American, Caribbean countries and the European Union as well as ANC countries.
Peru’s economy is classified as an upper middle- class economy by the World Bank. It’s also the 39th largest economy worldwide. Due to economic reforms that took place during the 2000s, Peru has become one of the fastest growing economies globally. In 2011, Peru received a score of 0.752 in the HDI. The Peruvian economy is mainly strengthened by its export sector. That’s what finances the money required for imports and also to pay off the external debts of Peru.
According to the Observatory of Economic Complexity (OEC), Argentina has the 45th largest export economy in the world. In 2018, Argentina became the 29th largest importer of consumer goods from the United States and exported a total of $61.6 billion dollars worth of goods around the world. Considering that the Argentine economy in the late 90s was very unstable due to the country’s rising debt and inflation, it’s safe to say that they’re doing pretty well.
Peru has evolved as one of the star economies in Latin America in the 21st century. It’s the reason why so many international companies are thinking of shipping to Peru in order to expand their business empire. Having an average growth rate of 5.9% in a background of low inflation, Peru has emerged as one among the region’s fastest growing economies. If you’re in the United States and are considering shipping to Peru, there are several factors you should keep in mind.
Located on the southwestern tip of South America, Colombia is well known country for its beautiful ports, old towns and beaches. In Bogota, the capital of the country there is the Museo del Oro, Cartagena has the Islas del Rosario and Medellin has the flower festival. There’s never a dull moment in the country and the ports are a major component of the economic action supplementing the revenue the government collects from these tourist attractions.
Chile’s economy is regarded as one of the most stable in South America. It also has the highest gross domestic product (GDP) per capita throughout Latin America. According to the Economic Complexity Index (ECI), Chile’s economy is the 61st most complex one in the world. It also happens to be the 42nd largest economy across the globe. The imports in Chile were recorded at 68.5 billion US dollars in 2018.
Chile has had a free trade agreement with the United States since 2004. The country declared in 2015 that all goods originating from the US could enter Chile without the sender having to pay tariffs. This works out great if you need to send cargo to Chile, but what about personal belongings or other commercial products? Whether you’re planning to move to Chile, send gifts to family, or you’ve got e-commerce business going on, you’ll need to understand how their import process works.
New Zealand has forged long lasting import/export relationships with several countries globally. However, her main trade partners are China, which takes 20% of her exports, Australia taking 18%, the European Union taking 12%, the United States which takes 11% and Japan taking 6%. The country’s economy is built on very well developed free market trade and is the 53rd largest economy worldwide. Although her trade and economic interests are closely aligned with those of Australia because of the Closer Economic Relations agreement between the two countries signed in 1983, the GDP of New Zealand is considered large for its population and land size.
There are only a handful of countries in the world that can lay claim to be a major oil producer in the world. Mexico is one of them. Mexico has long been a trade partner with the United States, Spain, New Zealand and other developed economies worldwide. In fact, Mexico is the 9th largest export economy in the world. With that said, here are their major exports and imports.