14 Products That are in High Demand in the US and EU, for Your Exporting Business
Are you looking to start an exporting business to the US, Canada or the EU? Do you have an existing local business and wish to expand your business internationally? You will need to know where to export your products into, and at the same time, how to do so successfully.
Below, we list out some products that are popular in certain countries — including two unexpected but notable products. Also, read on to find out which are the new industries to explore — you may find some interesting finds as we go along.
This article at a glance:
- If you are an exporter of commodities, where can you start importing into?
- Countries under the European Union, Asia and North America are main importers.
- I am an exporter from Vietnam, what are the products I can explore for my exporting business?
- You can export broadcasting equipment, telephones and footwear, but also venture into other electronic products or clothing and accessories.
- What is the biggest challenge for new exporters when entering a new market?
- Firstly, you have to research clearly on which country you want to export to, as this determines your target market and whether there is a demand for your product there.
If You Do Not Want To Go Into The Details, Here’s A Summary
Here’s a sum up of all the countries and which products are exported most successfully into different areas.
Commodities Electronic products Medicinal products Jewelry Nigeria Vietnam India India Ghana China Kenya Ukraine On the other hand, you, as an exporter may be considering which country to export to for your product. Here’s some pointers.
Commodities Electronic products Medicinal products Jewelry European Union North America North America Asia Asia Asia European Union North America North America European Union Nigeria
Apart from crude petroleum and petroleum gas, it is interesting to note that Nigeria is also a huge exporter of cocoa beans and rough wood.
Being one of the most populous countries in Africa with approximately 160 million people, Nigeria is the 3rd largest exporting country in the world for cocoa beans. Cocoa beans are mainly used to make beverages, confections and bakery products. One common by-product is chocolate.
Market share in 2019 Nigeria exported $ 715 million worth of coca beans, and is the 3rd largest exporter of cocoa beans in the world. Main importers of cocoa beans from Nigeria Netherlands, Germany, Belgium, Indonesia, Malaysia, Russia. Rough Wood
If you’re into interior designing and house building, you would be familiar with rough wood. Usually used to create a rustic and natural look, these wood planks create the perfect outdoor picnic table, swing set, or even picture frames.
Market share in 2019 Nigeria covers 1.6% market share of the global rough wood market that is worth $ 15.7 billion. Main importer of rough wood from Nigeria China is a huge importer of rough wood from Nigeria, and almost receives all of its rough wood exports Ghana
Apart from gold and crude petroleum, Ghana is also a huge exporter of cocoa beans and cocoa paste.
Similar to Nigeria, Ghana is also a main exporter of cocoa beans, and also cocoa paste.
Market share in 2019 Ghana exported $ 1.61 billion in cocoa beans and is the 2nd largest exporter of cocoa beans in the world. Main importers of cocoa beans from Ghana Netherlands, United States, Malaysia, Japan, France. Cocoa paste
Cocoa paste is a natural product of ground nibs taken from the fruit of the Theobroma Cacao tree. Cocoa paste is made by crushing raw beans into a liquid and then solidified at room temperature into a paste. It is usually used to make pure dark chocolate, without additives or sweeteners.
Market share in 2019 Ghana exported $ 504 million in cocoa paste and is the 3rd largest exporter of cocoa paste in the world. Main importers of cocoa paste from Ghana France, Spain, Malaysia Vietnam
Apart from commodities, Vietnam is a huge exporter of electronics such as broadcasting equipment, telephones and integrated circuits. The Southeast Asian country that is near China and Cambodia also deals with textile and leather footwear.
Broadcasting equipment refers to the machines and electronics used in broadcasting television or radio. These include antennas, speakers, cables, transmitters, receivers, audio processors and more.
Market share in 2019 Vietnam exported $ 42.3 billion worth of broadcasting equipment, and is the 2nd largest exporter of broadcasting equipment in the world. Main importers of broadcasting equipment from Vietnam United States, United Arab Emirates, United Kingdom, Germany, Austria. Telephones
Well, we do not need an introduction for telephones in this day and age. If you’re thinking smartphones, they’re not really the same. Telephones are landline phones that come either with a cord or are cordless, although they are less used now due to technology advancements.
Market share in 2019 Vietnam exported $ 18.2 billion in telephones, and was the 2nd largest exporter in the world for this electronic product. Main importers of telephones from Vietnam China, South Korea, India, Hong Kong, Brazil. Kenya
When we think of Kenya, wildlife and huge acres of land come into mind. That’s not entirely wrong, as Kenya is an agriculture dominated economy. Agriculture takes up 40% of the overall workforce in Kenya. Therefore, it’s not surprising to see that tea, coffee and cut flowers are amongst the highest export products in Kenya.
Kenya tea can be considered one of the best quality black teas. Walk into any cafe or restaurant in Kenya, and you’ll find that the tea standards are pretty high because of its quality and aroma.
Market share in 2019 Kenya exported $ 1.13 billion in Tea, and it is the 2nd largest exporter of tea in the world. Main importers of tea from Kenya Pakistan, Egypt, United Kingdom, United Arab Emirates, Yemen. Cut flowers
Kenya works closely with the European Union (EU) as an exporter of cut flowers through supermarkets and Dutch Auctions. These locally grown cut flowers include roses, carnations, Alstroemeria, Gypsophila and Lilies Eryngiums.
Market share in 2019 Kenya exported $ 616 million in Cut Flowers, and is the 4th largest exporter of cut flowers in the world. Main importers of cut flowers from Kenya Netherlands, United Kingdom, Germany, Norway, Saudi Arabia. India
The top four exports of India include petroleum oils, packaged medicaments, diamonds and rice. Today, we’re going to go more in depth with packaged medicaments and diamonds.
Packaged medications are drugs sorted in measured doses packed for retail sale. These drugs are usually used to treat or prevent therapeutic or prophylactic diseases or conditions.
Market share in 2019 India exported $ 15.8 billion in packaged medicaments, and stands at the 10th largest exporter of packaged medicaments in the world. Main importers of packaged medicaments from India United States, Russia, South Africa, United Kingdom, Germany. Jewellery (Diamonds)
Madhya Pradesh is the only state in India that produces diamonds, although the country has a rich history of diamond mining since the 4th century. From one of the oldest diamond ‘Koh-i-Noor' to one of the rarest largest cut diamonds globally, the ‘Daria-i-Noor', India has always had a long history with diamonds.
Market share in 2019 India exported $ 14.1 billion in jewellery, and is the 1st largest exporter of jewellery in the world. Main importers of jewelry from India United Arab Emirates, United States, Hong Kong, Turkey, Singapore. China
China’s economy has been rising at a fast speed these couple of years, and there are reasons why importers and exporters are looking to expand their businesses in China. Even in the midst of a pandemic, China’s exports are still growing at a fast pace, especially in Chinese-made consumer goods such as electronics and furniture.
Being the world’s 5th most traded product with a total trade of an estimated $ 413 billion, it is no surprise why broadcasting equipment is so popular. Countries need radio and television broadcasts, therefore the need for antennas, speakers, cables, transmitters, receivers, audio processors and more.
Market share in 2019 China exported $ 208 billion in broadcasting equipment, and they hold the place for the 1st largest exporter of broadcasting equipment in the world. Main importers of broadcasting equipment from China United States, Hong Kong, Japan, Netherlands, United Kingdom. Computers
Look at the bottom of your laptop or desktop monitors, there’s a chance you’ll find the label ‘Made in China'. China’s electronics market has always been a steady competitor around the world, accounting for its high export numbers in electronics.
Market share in 2019 China exported $ 141 billion in computers, and is the 1st largest exporter of Computers in the world. Main importers of computers from China United States, Hong Kong, Netherlands, Japan, Germany. Ukraine
Despite being one of the youngest countries in the world, Ukraine is growing in its agricultural and Info-tech industries. Having China as one of its main exporters has also boosted sales trades by around 20% for crop-based products such as corn, wheat and barley.
Based on an International Grains Council research, Ukraine’s 2021-2022 grains production is predicted to reach 74.2 million tonnes, an increase over the year before. From wheat, maize, barley and oats, Ukrainian grain exports are expected to rise from 45.3 million in 2019 to 53.1 in 2021-2022.
Market share in 2019 Ukraine exported $ 4.77 billion in Corn, and is the 4th largest exporter of Corn in the world. Main importers of corn from Ukraine China, Netherlands, Spain, Egypt, Turkey. Seed Oils
Seed oils include canola, corn, cottonseed soy, sunflower, safflower, grapeseed and rice bran. Oil is extracted from these plants and then manufactured into oil for consumption.
Market share in 2019 Ukraine exported $ 3.75 billion in seed oils, and is the 1st largest exporter of seed oils in the world. Main importers of seed oils from Ukraine India, China, Spain, Netherlands, Italy. Regulations When Importing Food Products Into The US
If you’re planning on importing food products into other countries, always remember that most countries are particularly stricter with food standards and safety. Let’s start with regulations in the US.
- Importers are responsible for food safety and sanitary compliances
- Importers can import foods into the US without prior sanction by the FDA, as the FDA is not legally authorised to approve, certify or sanction individual food importers or shipments
- Importers have to ensure that the facilities that product, store and handle the products must be registered with FDA, and make sure that notice of incoming shipments are provided.
For regulations when importing food products into the UK, check out our article on how to sell food in Europe as an international merchant.
📍 Tip: Can you import electronics into a country? We show you how, in our guide to selling internationally.
Steps On Entering A New Market As An Exporter
Although the exact steps and paperwork vary from country to country, we have put together a simple guide that you can follow when understanding how to export goods into international markets.
- Add an export number to your regular business number.
- Obtain permits and licences pertaining to your exact product you want to export.
- Research on the country you are exporting to for its laws and regulations.
- Do market research to check demand for your product in the destination country.
Once you have decided on your destination country to export to, consider these steps:
- Determine the best method to sell your product once it reaches the destination country
- How should you deliver your product to your customers?
- Are you planning to work with a distributor? If so, how do you select one?
- Attend trade shows to market your product.
- If you have existing industry associations, contact them for relevant connections.
When you have decided on how to sell and distribute your product, you will need to settle payment matters, including opening a bank account to receive money and transfer funds.
Here’s where Silverbird comes in to make your payments simpler.
We offer a global business account enabled with 30+ currencies, direct IBANs, and fast EU/US/UK transactions — so you can focus on running your business without the hassle of payments and converting FOREX rates.
Author: Silverbird Content Team
Illustration: Kate Faldina