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10 countries for exporters in 2024

10 countries for exporters in 2024

10 countries for exporters in 2024 – Major economies

10 countries for exporters in 2024. 10 recommend countries with great potential for exporters in 2024 – stating with some major economies.

India

India is the fastest growing of the major economies in the world and is expected to grow about 6.3% in 2024, that alone means it is an economy exporters should be interested in. With a population of 1.43 billion India is the most populous country in the world, the per capita income of India is only about $2,500 though.

The main imports of India are machinery, computers, oil/fuels, chemicals, plastics, medical equipment and fertilizers.

United Kingdom

The United Kingdom remains the 6th largest economy in the world with a population of around 68 million and a per capita income of $41,000 equivalent.

The UK economy is currently undergoing a difficult transition following BREXIT and UK growth for 2024 is projected at just 0.7%. This however is exactly why the UK can be an opportunity for some exporters, the UK is seeking new trade deals and trade partners with talks ongoing with India, USA and Australia. The UK has also been accepted into the Asia Pacific trade block of 11 countries, CPTPP.

10 countries for exporters in 2024 – Asian economies

Cambodia

Cambodia has the fastest growing economy in South East Asia with expected growth of 6.1% for 2024. Cambodia growth will be driven by clothing manufacture, tourism and construction. Cambodia main imports are fuel, vehicles, electronic equipment and medicines.

Vietnam

Another fast growing economy in South East Asia with expected growth of 5.8%, Vietnam has a wide range of trade agreements in place to make export and import easy. Vietnam main imports are electrical goods, computers, machinery and instruments.

Philippines

Philippines main trade partners for imports are USA, China, Japan, South Korea and Indonesia. The economy is expected to grow by 5.9% and with a population of 114 million and a per capita income of about $10,000 it is a country worth exporting to.

10 countries for exporters in 2024 – Fast growing economies

Macao

Macao is projected to be the world’s fastest growing economy of 2024 with growth of around 27%. The population is small at just under 700,000 people but there is a very high per capita income of about $73,000.

The economy does depend to a high extent on tourism and the gambling industry. Macau imports are jewelry, precious metals, cars, food, clothes, luxury goods and electricity.

Bangladesh

Bangladesh is another success story on the Indian sub-continent with anticipated growth for 2024 of 6%. Bangladesh now has a higher per capita income than India or Pakistan and an economy driven largely by the textile and clothing industry.

Bangladesh imports are growing fast driven by consumer demand of the 182 million population. Main imports are machinery, computers, vehicles, plastics, iron/steel, cotton and fabrics and fibers.

10 countries for exporters in 2024 – African economies

Senegal

Blackcat360.com surveys have shown that Africa is the continent that exporters are least interested in exporting to. However, African countries dominate the list of projected fastest growing economies for 2024 and so exporting to some of the most successful African economies should be considered. The Senegal economy is expected to grow by 8.8% in 2024.

Tanzania

A lot of international trade experts consider Tanzania to be the pick of the high growth African economies. Tanzania is expected to grow by 6.1%.

The main imports for African countries are electronic goods, vehicles, computers, chemicals, machinery and engineering products.

10 countries for exporters in 2024

10 countries for exporters in 2024

10 countries for exporters in 2024 – Recovering economies

Turkiye

2024 is a very important year for the Turkish economy, inflation has been out of control for a long time but following the 2023 elections new economic policies have been implemented to bring inflation down. Interest rates have risen to 42.5% and it is expected that tangible results can be expected from the 2nd quarter of 2024. The Turkish economy can be expected to emerge stronger and more stable.

Turkiye imports include machinery, fuel & oils, vehicles and electronic equipment.

 

Useful links:

List of fastest growing economies in the world in 2024: https://www.fdiintelligence.com/content/data-trends/the-advanced-economy-forecast-to-double-in-size-by-2024-83168

20 countries that import the most food: https://blackcat360.com/20-countries-that-import-the-most-food/

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10 countries for exporters in 2024

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