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Chile and Peru: Opportunities for Delaware Exporters



Latin America is full of unique opportunities for Delaware exporters, specifically Chile and Peru. These economies of these Spanish-speaking nations are recovering in the wake of COVID-19. The healthcare industry is expanding and the government is looking to invest in medical devices and health record solutions. There is also a high demand for safety and security solutions. Read more about each market below.

If your Delaware small business is interested in developing new customers in Latin America, we invite you to join us on a business trip to Chile and Peru to meet new customers and potential partners. We plan to travel in person, but meetings will be organized and conducted via Zoom should travel not be possible.

On the trip, you will receive specialized support from our trade representative headquartered in Latin America, Miguel de Regil. Miguel has over 40 years of experience supporting US companies as they export to Latin America. Miguel and the Export Delaware team will arrange business meetings with distributors, agents, or customers according to your needs, all specific to your company. Meeting face-to-face with prospective customers is critical to establishing new business relationships around the world. We will help you make the right contacts overseas and achieve new international sales.

The fees to participate in the trip and work with Miguel are covered by the SBA STEP grant. If you are interested in participating in this trip, would like more information, contact us at Export@Delaware.gov.

 

Chile Market Overview

With zero tariffs, an open market policy, and a stable government, Chile is a strong export market for Delaware small businesses. Of all the Latin American nations, Chile has the highest credit rating. The nation consistently ranks high on international indices relating to economic freedom, transparency, and competitiveness. For a general market overview, read more from the US International Trade Administration here.

 

Quick Facts

  • Delaware companies exported $19 Million to Chile in 2019
  • US exports totaled $15.7 Billion to Chile in 2019
  • Chile is the 20th largest goods trading partner for the US
  • The US is Chile’s #2 trading partner (after China)

 

Healthcare Sector

Due to the aging population, healthcare infrastructure projects are a priority for the Chilean government. The administration has placed a major focus on creating a unified national record of patients, in conjunction with their government-run health insurance system that covers 77% of the population.

Telemedicine technology, healthcare information management systems, digital medical record systems, remote monitoring systems for chronic diseases, and medical devices are all in high demand.

Read the full sector report from the International Trade Administration here.

 

Telecommunications Sector

According to the ITA, Chile has the “most advanced and modern telecommunications network in Latin America.” The nation has to import all telecommunications equipment. However, this isn’t deterring progress — they are currently on track to deploy their first national 5G network. The nation is also completing plans for a submarine fiberoptic cable connecting them with Australia. This presents opportunities to Delaware companies who specialize in this sector.

Read the full sector report from the International Trade Administration here.

 

Peru Market Overview

In the past 20 years, Peru has continued to be one of the fastest-growing Latin American economies. The nation now enjoys low inflation and lower poverty rates after years of structural reforms and macroeconomic policies. There has never been a better time for Delaware exporters.

Peru has reported the lowest country risk in the region, according to JP Morgan. Economists predict the nation will recover from the COVID-19 Pandemic faster than others in the region.

Read more from the International Trade Administration here.

 

Quick Facts:

  • US exports to Peru totaled $9.6 Billion in 2019
  • Delaware exports to Peru totaled $5.1 Million in 2019

 

Medical Device Sector

The opportunities in this sector are due to Peru’s inadequate healthcare resources. Unfortunately, the COVID-19 pandemic shed light on just how vulnerable the nation was and the need for improvement is evident. Now, digitalization and telemedicine, or telehealth, are also priorities for the Peruvian government. The ITA says the “government’s prioritization of the country’s healthcare system and the interest of private companies to invest more in specialized equipment, will yield opportunities for foreign medical device manufacturers.”

Note, “US companies must register their products in Peru by partnering with a local distributor who has the ability to register through the Dirección General de Medicamentos, Drogas e Insumos (DIGEMID).”

Read the full sector report from the International Trade Administration here.

 

Safety and Security Sector

Currently, there is a high demand for residential, industrial, and office security equipment. Many organizations and individuals are investing in security equipment. The Peruvian government plans to invest $117 Million on police equipment.

Read the full sector report from the International Trade Administration here.

 

Join Us

If your Delaware small business is interested in developing new customers in Latin America, we invite you to join us on a business trip to Chile and Peru to meet new customers and potential partners. If you are interested in participating in this trip, would like more information, contact us at Export@Delaware.gov.


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Export Delaware
Delaware Department of State
820 N. French Street,
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Wilmington DE, 19801

P: +1 (302) 577-8464
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export@delaware.gov



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