5 untapped markets for UK exporters

2. Mexico 

Mexico’s imports are projected to grow at an annual rate of more than six per cent over the next four years, a growth UK companies should be battling to be a part of.

Despite out-dated perceptions of Mexico as a poor agricultural economy, the country has been booming. According to AC Nielsen, 6.4m Mexicans will have annual incomes of over $60,000US by 2030, creating a vast market for luxury goods.

Mexico is the second largest global consumer of soft drinks, and there is also increasing demand for alcoholic drinks and cosmetics.

The UK also stands to benefit from large amounts of car and other vehicle imports.

The RBS report describes Mexico as a “dark horse… a good opportunity for UK companies despite its relatively low standing in our export league table.”

According to UKTI, business dress in Mexico is very formal, and it’s necessary to build a good rapport with your contacts before getting straight down to business. 

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