Our exports to the BRIC nations account for only 4% of UK exports currently. And, given that the UK sells more to Ireland than it does to Brazil, Russia, India and China (BRIC) combined, surely we need to be exporting more to these emerging markets? Just think what we could achieve if we did!
Let’s take Brazil as an example. When you read the reasons below, you’ll see that trading with Brazil is just plain common sense.
- Brazil is the largest country in South America.
- It’s the 5th largest country in the world, in terms of population size and geographical area.
- The UK has long enjoyed a successful trading relationship with Brazil stretching back some 200 years.
- Brazil’s GDP is larger per head than both China and India and Brazil’s GDP is expected to grow by 4.5% in 2011-12.
- During the financial crisis, Brazil avoided the recession and played a crucial role, together with the other BRIC nations, in maintaining the global economic balance.
- At a time when the UK’s main EU trading partners are stagnating in terms of their growth, Brazil has been described by the UKTI (UK Trade and Investment) as a high growth market, making it simply “too big a market to ignore”.
- By 2050, it has the potential to be one of the most dominant economies in the world.
- Brazilian businesses and consumers alike expect higher standards in terms of quality and value for money. The perfect target market for UK businesses.
- Brazil’s middle class enjoys quality goods and services just as its counterparts do in France, Germany and the USA.
- Advances in technology are redefining the way we communicate and connect with our customers, meaning that exporting to new markets is now not as daunting as it was 10 years ago. The world really is getting smaller.
We are already moving in the right direction. UK exports to Brazil have shown big increases in recent years, rising by 31% in 2010.
With all this in mind, it is clear that Brazil has immense potential as a trading partner of UK businesses large and small.
And, if you aren’t in Brazil already, one of your competitors probably is. So get going!