Latin America

With a growing middle class and a population of 633 million, Latin America provides exciting export opportunities for Victorian businesses across a range of key industry sectors. Domestic reforms and a commodities boom have increased demand for personal items including education, healthcare and consumables. The Victorian Government is committed to building long-term relationships with Latin American countries to facilitate trade, investment and people-to-people links.

Victoria's two-way trade with Latin America was worth over A$1.9 billion between 2015-16, and over A$310 million in revenue was raised in total merchandise exports. 

Opportunities exist for Victorian businesses to export across a range of industries including:

International education

Education institutions across Latin America are prioritising internationalisation through institute-to-institute agreements and mobility programs – offering short-term study programs taught in English, and research partnerships. Exciting new opportunities have emerged for leading Victorian education providers and Vocational and Education Training (VET) providers to establish valuable trade relationships with their counterparts in Latin America to meet the demand, focusing on implementing education reform and increasing workforce productivity.

Mining equipment technology and alternative energy

Latin American countries – particularly Chile, Peru and Mexico – have substantial mineral and petroleum potential. Ongoing opportunities exist for Victorian mining businesses to provide high quality, innovative infrastructure requirements and solutions.

Agriculture

Latin America is a region with a substantial availability of potential new, arable land and renewable water resources.

It's projected that Latin America's dominance as a source of the world's food and fibre products is projected to grow and will provide export opportunities for Victorian businesses skilled in areas of research and development, logistics, and infrastructure development.

Professional services

Victoria's professional services businesses are recognised as world-class placing the industry in a strong position to participate in the pipeline of infrastructure, mining, and urban development projects across the region. Opportunities with Latin America's Information Communications Technology (ICT) sector continue to grow in relation to new technology trends and systems management.

Medical, pharmaceutical and healthcare

Victoria's world-leading and internationally recognised medical and pharmaceutical industries are strongly positioned to meet Latin America's growing demand for healthcare, medical, pharmaceutical and biotechnology services.

Fast facts

  • Victoria's total merchandise exports to Latin America exceeded A$310 million in 2015-161
  • Two-way trade between Latin America and Victoria exceeded A$1.9 billion2
  • The countries of Latin America have a combined GDP of over US$5 trillion3
  • Urban population growth across the region is 1.4 per cent – over twice as much as the Organisation for Economic Co-operation and Development (OECD) average
  • It takes just five to six days to start a new business in Chile and Mexico, faster than the OECD average which is over eight days.

Discover how your business can export to Latin America

  • A Victorian Government Business Office (VGBO) will be opened in Santiago (Chile). The VGBO will cover all of Latin America – including South America, Central America, and the Caribbean – and can provide tailored market intelligence, local insights and guidance for your export business. They can also connect you with overseas buyers and industry partners in Latin America.
  • Austrade's market profiles provide further detail and facts about markets within Latin America.
  • The Victorian Government provides support through a range of grants, vouchers and assistance programs.
  • The International Chamber House (ICH) in Melbourne's city centre is a business networking hub for international bilateral chambers and business associations. It provides members access to meeting rooms with video-conferencing, flexible workspaces and a function space for international business development events.

Source:

  1. DFAT STARS Database, based on ABS Cat No 5368.0, June 2016 data
  2. DFAT STARS Database, based on ABS Cat No 5368.0, June 2016 data
  3. The World Bank 2015