This document provides an overview guide for doing business in Latin America. It includes key economic data for countries in the region such as population, GDP, GDP growth rate, GDP per capita, inflation rate and unemployment rate. The guide then provides individual country profiles for Brazil, Mexico, Colombia, Argentina, Peru, Venezuela, Chile, Cuba and Panama. Each country profile outlines information for trading with that country, business opportunities, key industries and visiting the country. The document is intended to help businesses expand into Latin American markets.
2. According to the Harvard Business Review, “Latin America is a
modern marketer’s dream, and not just because of its size. By
2020, nearly one out of every 10 dollars in the world economy
will come from Latin America. The region will soon represent
10% of the global population and 9% of global GDP, with 640
million customers. It also has the fourth-largest mobile market
in the world, with social media adoption even surpassing that of
the United States”
About Mercatrade.com
Mercatrade was created with a simple mission in mind: to provi-
de effective TRADE MARKETING solutions for businesses that
wish to grow their sales in Latin America. Mercatrade fulfills its
mission by bringing its users with high quality business informa-
tion about Import and export in the region. As trade marketing
experts, we also build digital marketing strategies to help you
find new B2B clients, execute your communication campaigns
and achieve maximum ROI of your brand assets in Latin Ameri-
ca.
3. Chapter 1 Key Economic Data
Population
Total GDP
GDP Growth Rate
GDP per capita
Inflation
Unemployment Rate
Chapter 2 Country Profiles
How to do business with Brazil
1- Brazil in a Nutshell
2- Brazil’s Economy
2.1- GDP Figures (2015), The World Factbook
2.2- Economic Outlook
2.3- Trade and Economic Challenges
3- Trading With Brazil
3.1- Trading Partners
3.2- Brazil's Imports and Exports
3.3 - Trading Infrastructure
3.4 - Time and Cost to Import into Brazil
3.5 - Tax Free Zones
3.6 - Brazil Free Trade Agreements
4- Brazil’s Business Opportunities
4.1 - Investment Grade
4.2 - Significant Projects
4.3 – Infrastructure
4.4 - Largest Employers
4.5 - General Business Taxes
5- Brazil’s Key Industries
5.1 - Largest Industries
5.2 – Brazil’s Technology and Connectivity
5.3 - E-Commerce and Startups
6- Visiting Brazil
6.1 - Business and Cultural Etiquette
6.2 - Primary Tourist Attractions
6.3 – Safety
6.4 - Public National Holidays
6.5 - Fun and Interesting Facts
6.6 - The Foodie Scene
6.7 – The Media
6.8 - Emergency Numbers
6.9 - Primary Hospitals and Medical Facilities In Case of Emergency
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4. How To Do Business With Mexico
1- Mexico in a Nutshell
2- Mexico’s Economy
2.1- GDP Figures (2015), The World Factbook
2.2- Economic Outlook
2.3- Trade and Economic Challenges
3- Trading With Mexico
3.1- Trading Partners
3.2- Mexico‘s Imports and Exports
3.3 - Trading Infrastructure
3.4 - Time and Cost to Import into Mexico
3.5 - Tax Free Zones
3.6 - Mexico Free Trade Agreements
4- Mexico’s Business Opportunities
4.1 - Investment Grade
4.2 - Significant Projects
4.3 – Infrastructure
4.4 - Largest Employers
4.5 - General Business Taxes
5- Mexico’s Key Industries
5.1 - Largest Industries
5.2 – Mexico’s Technology and Connectivity
5.3 - E-Commerce and Startups
6- Visiting Mexico
6.1 - Business and Cultural Etiquette
6.2 - Primary Tourist Attractions
6.3 – Safety
6.4 - Public National Holidays
6.5 - Fun and Interesting Facts
6.6 - The Foodie Scene
6.7 – The Media
6.8 - Emergency Numbers
6.9 - Primary Hospitals and Medical Facilities In Case of Emergency
How To Do Business With Colombia
1- Colombia in a Nutshell
2- Colombia’s Economy
2.1- GDP Figures (2015), The World Factbook
2.2- Economic Outlook
2.3- Trade and Economic Challenges
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5. 3-Trading With Colombia
3.1- Trading Partners
3.2- Colombia ‘s Imports and Exports
3.3 - Trading Infrastructure
3.4 - Time and Cost to Import into Colombia
3.5 - Tax Free Zones
3.6 - Colombia Free Trade Agreements
4- Colombia’s Business Opportunities
4.1 - Investment Grade
4.2 - Significant Projects
4.3 – Infrastructure
4.4 - Largest Employers
4.5 - General Business Taxes
5- Colombia’s Key Industries
5.1 - Largest Industries
5.2 – Colombia’s Technology and Connectivity
5.3 - E-Commerce and Startups
6- Visiting Colombia
6.1 - Business and Cultural Etiquette
6.2 - Primary Tourist Attractions
6.3 – Safety
6.4 - Public National Holidays
6.5 - Fun and Interesting Facts
6.6 - The Foodie Scene
6.7 – The Media
6.8 - Emergency Numbers
6.9 - Primary Hospitals and Medical Facilities In Case of Emergency
How To Do Business With Argentina
1- Argentina in a Nutshell
2- Argentina’s Economy
2.1- GDP Figures (2015), The World Factbook
2.2- Economic Outlook
2.3- Trade and Economic Challenges
3- Trading With Argentina
3.1- Trading Partners
3.2- Argentina ‘s Imports and Exports
3.3 - Trading Infrastructure
3.4 - Time and Cost to Import into Argentina
3.5 - Tax Free Zones
3.6 - Argentina Free Trade Agreements
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6. 4- Argentina’s Business Opportunities
4.1 - Investment Grade
4.2 - Significant Projects
4.3 – Infrastructure
4.4 - Largest Employers
4.5 - General Business Taxes
5- Argentina’s Key Industries
5.1 - Largest Industries
5.2 – Argentina’s Technology and Connectivity
5.3 - E-Commerce and Startups
6- Visiting Argentina
6.1 - Business and Cultural Etiquette
6.2 - Primary Tourist Attractions
6.3 – Safety
6.4 - Public National Holidays
6.5 - Fun and Interesting Facts
6.6 - The Foodie Scene
6.7 – The Media
6.8 - Emergency Numbers
6.9 - Primary Hospitals and Medical Facilities In Case of Emergency
How To Do Business With Peru
1- Peru in a Nutshell
2- Peru’s Economy
2.1- GDP Figures (2015), The World Factbook
2.2- Economic Outlook
2.3- Trade and Economic Challenges
3- Trading With Peru
3.1- Trading Partners
3.2- Peru ‘s Imports and Exports
3.3 - Trading Infrastructure
3.4 - Time and Cost to Import into Peru
3.5 - Tax Free Zones
3.6 - Peru Free Trade Agreements
4- Peru’s Business Opportunities
4.1 - Investment Grade
4.2 - Significant Projects
4.3 – Infrastructure
4.4 - Largest Employers
4.5 - General Business Taxes
5- Peru’s Key Industries
5.1 - Largest Industries
5.2 – Peru’s Technology and Connectivity
5.3 - E-Commerce and Startups
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7. 6- Visiting Peru
6.1 - Business and Cultural Etiquette
6.2 - Primary Tourist Attractions
6.3 – Safety
6.4 - Public National Holidays
6.5 - Fun and Interesting Facts
6.6 - The Foodie Scene
6.7 – The Media
6.8 - Emergency Numbers
6.9 - Primary Hospitals and Medical Facilities In Case of Emergency
How To Do Business With Venezuela
1- Venezuela in a Nutshell
2- Venezuela’s Economy
2.1- GDP Figures (2015), The World Factbook
2.2- Economic Outlook
2.3- Trade and Economic Challenges
3- Trading With Venezuela
3.1- Trading Partners
3.2- Venezuela ‘s Imports and Exports
3.3 - Trading Infrastructure
3.4 - Time and Cost to Import into Venezuela
3.5 - Tax Free Zones
3.6 - Venezuela Free Trade Agreements
4- Venezuela’s Business Opportunities
4.1 - Investment Grade
4.2 - Significant Projects
4.3 – Infrastructure
4.4 - Largest Employers
4.5 - General Business Taxes
5- Venezuela’s Key Industries
5.1 - Largest Industries
5.2 – Venezuela’s Technology and Connectivity
5.3 - E-Commerce and Startups
6- Visiting Venezuela
6.1 - Business and Cultural Etiquette
6.2 - Primary Tourist Attractions
6.3 – Safety
6.4 - Public National Holidays
6.5 - Fun and Interesting Facts
6.6 - The Foodie Scene
6.7 – The Media
6.8 - Emergency Numbers
6.9 - Primary Hospitals and Medical Facilities In Case of Emergency
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8. How To Do Business With Chile
1- Chile in a Nutshell
2- Chile’s Economy
2.1- GDP Figures (2015), The World Factbook
2.2- Economic Outlook
2.3- Trade and Economic Challenges
3- Trading With Chile
3.1- Trading Partners
3.2- Chile ‘s Imports and Exports
3.3 - Trading Infrastructure
3.4 - Time and Cost to Import into Chile
3.5 - Tax Free Zones
3.6 - Chile Free Trade Agreements
4- Chile’s Business Opportunities
4.1 - Investment Grade
4.2 - Significant Projects
4.3 – Infrastructure
4.4 - Largest Employers
4.5 - General Business Taxes
5- Chile’s Key Industries
5.1 - Largest Industries
5.2 – Chile’s Technology and Connectivity
5.3 - E-Commerce and Startups
6- Visiting Chile
6.1 - Business and Cultural Etiquette
6.2 - Primary Tourist Attractions
6.3 – Safety
6.4 - Public National Holidays
6.5 - Fun and Interesting Facts
6.6 - The Foodie Scene
6.7 – The Media
6.8 - Emergency Numbers
6.9 - Primary Hospitals and Medical Facilities In Case of Emergency
How To Do Business With Cuba
1- Cuba in a Nutshell
2- Cuba’s Economy
2.1- GDP Figures (2015), The World Factbook
2.2- Economic Outlook
2.3- Trade and Economic Challenges
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9. 3- Trading With Cuba
3.1- Trading Partners
3.2- Cuba ‘s Imports and Exports
3.3 - Trading Infrastructure
3.4 - Time and Cost to Import into Cuba
3.5 - Tax Free Zones
3.6 - Cuba Free Trade Agreements
4- Cuba’s Business Opportunities
4.1 - Investment Grade
4.2 - Significant Projects
4.3 – Infrastructure
4.4 - Largest Employers
4.5 - General Business Taxes
5- Cuba’s Key Industries
5.1 - Largest Industries
5.2 – Cuba’s Technology and Connectivity
5.3 - E-Commerce and Startups
6- Visiting Cuba
6.1 - Business and Cultural Etiquette
6.2 - Primary Tourist Attractions
6.3 – Safety
6.4 - Public National Holidays
6.5 - Fun and Interesting Facts
6.6 - The Foodie Scene
6.7 – The Media
6.8 - Emergency Numbers
6.9 - Primary Hospitals and Medical Facilities In Case of Emergency
How To Do Business With Panama
1- Panama in a Nutshell
2- Panama’s Economy
2.1- GDP Figures (2015), The World Factbook
2.2- Economic Outlook
2.3- Trade and Economic Challenges
3- Trading With Panama
3.1- Trading Partners
3.2- Panama ‘s Imports and Exports
3.3 - Trading Infrastructure
3.4 - Time and Cost to Import into Panama
3.5 - Tax Free Zones
3.6 - Panama Free Trade Agreements
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10. 4- Panama’s Business Opportunities
4.1 - Investment Grade
4.2 - Significant Projects
4.3 – Infrastructure
4.4 - Largest Employers
4.5 - General Business Taxes
5- Panama’s Key Industries
5.1 - Largest Industries
5.2 – Panama’s Technology and Connectivity
5.3 - E-Commerce and Startups
6- Visiting Panama
6.1 - Business and Cultural Etiquette
6.2 - Primary Tourist Attractions
6.3 – Safety
6.4 - Public National Holidays
6.5 - Fun and Interesting Facts
6.6 - The Foodie Scene
6.7 – The Media
6.8 - Emergency Numbers
6.9 - Primary Hospitals and Medical Facilities In Case of Emergency
Sources
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15. GDP PER CAPITA
CHILE ARGENTINA PANAMA MEXICO VENEZUELA BRAZIL PERU COLOMBIA CUBA
$15,600
$22,600
$12,200
$10,200
$16,700
$23,500
$21,800
$17,500
$13,800
$25,000.00
$20,000.00
$15,000.00
$10,000.00
$5,000.00
$0,00
The World Factbook (2015 est.)
5
20. 2
1- Brazil In A Nutshell
Capital City: Brasilia
Population: 204,259,812 (July 2015 estimate, The World Factbook)
Language: Portuguese
GDP (purchasing power parity): $3.166 trillion (2015 estimate, The
World Factbook)
Unemployment Rate: 6.4% (2015 estimate, The World Factbook)
Inflation: 9% (2015 estimate, The World Factbook)
Currency: Brazilian Real
Time Zone: 6 times zones GMT-5, GMT-4, GMT-3, GMT-2. It is impor-
tant to note that not all states observe daylight savings time and
both Rio de Janeiro and Sao Paulo are GMT-3 during South Ameri-
can winter time and GMT-2 during summer time.
Telephone Code: +55
Internet Domain: .br
Electricity Voltage: Voltage varies from 110 to 220 depending on the
municipality and state.
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21. 2.1 - GDP Figures (2015), The World Factbook
GDP: USD $3.192 trillion
GDP growth rate: -3.8% (2015 estimate, The World Factbook)
GDP per capita (PPP): $15,600 (2015 estimate, The World Factbook)
GDP Composition by sector: Agriculture (5.9%), Industry (22.2%), Services (71.9%)
2.2 - Economic Outlook
Brazil is in a state of economic crisis causing much concern over the long-term growth
potential of the country. In addition to such economic woes, the political state of the
nation is also in disarray with the impeachment proceedings of President Dilma Rousse-
ff and a staggering list of resignations and prosecutions of many members of the inte-
rim President Michel Temer’s cabinet and ministry. Each month announcements are
being made of corruption charges and national fraud by both major businesses and
politicians. Safety is also a concern of investors and consumers alike, and many citizens
fear that after the Olympics, crime may skyrocket as a lack of money will be available to
fund police and special forces that have kept crime down in recent years. All of these
factors are contributing to a poor economic outlook for Brazil in the next few years.
2- Brazil’s Economy
11
22. 2.3 - Trade and Economic Challenges
A few of the challenges to the growth in Brazil is the fiscal policies that are not conduci-
ve to pursuing more exports and more investment. At this time, fiscal policies have been
established to promote consumerism to foster growth instead. The infrastructure conti-
nues to be problematic. As furiously as Brazil is working to improve the infrastructure,
the vast size of the country and environmental implications make development a massi-
ve obstacle.
Another challenge that remains constant is a lack of confidence in consumers and
investors. The government administration is taking steps to create more confidence. A
new Finance Minister has been appointed to attack the spending problem that exists
within the current government infrastructure. This too faces a grand challenge given
that much of the spending within the budget is directly connected to mandated
expenditures within the constitution. Experts agree that in order to bolster confidence
and to secure growth, spending must be significantly reduced; however, it seems new
laws affecting their constitution are required to accomplish such a task making the
situation highly problematic.
3- Trading With Brazil
3.1 - Trading Partners
Brazil has strong trading ties with China, the US, and Argentina in both imports and
exports. At this time, limited trade agreements and an economy heavily based on servi-
ces have made the distribution between trading partners less drastic than in other Latin
American countries. As Brazil continues to consider new trade agreements, partnership
distribution is likely to change.
Largest Export Partners (2014):
China 19.1%
US 12.6%
Argentina 6.8%
Netherlands 5.3%
Largest Import Partners (2014)
China 18.1%
US 15.3%
Germany 6%
Argentina 6%
Nigeria 4.2%
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23. What does Brasil Import? (2014)
3.2- Brazil's Imports and Exports
0.92%
Paper
Goods
3.2%
Textiles
0.38%
Footwear
and
Headwear
0.80%
Stone and...
0.26%
Precious...
6.0%
Metals
26%
Machines
11%
Transportation
3.2%
Instruments
1.0%
Miscellaneous
1.1%
Animal
Products
2.1%
Vegetable Products
0.49%
Animal and Vegetable Bi-Products
1.4%
Foodstuffs
20%
Mineral Products
16%
Chemical Products
5.6%
Plastics and
Rubbers
0.29%
Animal
Hides
0.079%
Wood...
MINERALPRODUCTS
WOODPRODUCT
METALS
STONEANDGLASS
ANIMALANDVEGETABLE
BIPRODCUTS
PAPERGOODS
VEGETABLEPRODUCTS
ANIMALPRODUCTS
FOODSTUFFS
WEAPONS
FOOTWEARANDHEADWEAR
ANIMALHIDES
TEXTILES
TRANSPORTATION
INSTRUMENTS
PLASTICANDRUBBER
MISCELLANEOUS
MACHINES
ARTSANDANTIQUES
PRECIOUSMETALS
CHEMICALPRODUCTS
Source: AJG Simoes, CA Hidalgo. The Economic Complexity Observatory: An Analytical Tool for Understanding
the Dynamics of Economic Development. Workshops at the Twenty-Fifth AAAI Conference on Artificial Intelligence. (2011)
TOTAL: $228B
13
24. What does Brasil Export? (2014)
MINERALPRODUCTS
WOODPRODUCT
METALS
STONEANDGLASS
ANIMALANDVEGETABLE
BIPRODCUTS
PAPERGOODS
VEGETABLEPRODUCTS
ANIMALPRODUCTS
FOODSTUFFS
WEAPONS
FOOTWEARANDHEADWEAR
ANIMALHIDES
TEXTILES
TRANSPORTATION
INSTRUMENTS
PLASTICANDRUBBER
MISCELLANEOUS
MACHINES
ARTSANDANTIQUES
PRECIOUSMETALS
CHEMICALPRODUCTS
Source: AJG Simoes, CA Hidalgo. The Economic Complexity Observatory: An Analytical Tool for Understanding
the Dynamics of Economic Development. Workshops at the Twenty-Fifth AAAI Conference on Artificial Intelligence. (2011)
Total: $228B
3.6%
Paper Goods
1.1%
Textiles
0.56%
Footwear
and
Headwear
0.86%
Stone
and
Glass
1.6%
Precious
Metals
7.0%
Metals
7.3%
Machines
7.5%
Transportation
0.40%
Instruments
0.27%
Weapons
0.49%
Miscellaneous
7.8%
Animal Products
16%
Vegetable Products
0.75%
Animal
and
Vegetable
Bi-
Products
12%
Foodstuffs
22%
Mineral Products
5.4%
Chemical Products
2.5%
Plastics and
Rubbers
1.3%
Animal
Hides
1.0%
Wood...
14
