ARGENTINA
Situated in the southern hemisphere bordering Chile, Bolivia, Paraguay, Brazil and Uruguay, Argentina has a population of 43.4 million, 92 percent of whom live in urban areas.
Despite two sovereign debt defaults in the last 15 years and the end of the commodity boom, Argentina presents significant long-term growth potential. The country’s GDP rebounded and grew by 3.2 percent in 2015, thanks to abundant natural resources, high per capita incomes and a highly educated workforce, combined with the policies the recently elected Argentine President, Mauricio Macri, is pursuing.
In 2015, Wisconsin exports to Argentina totalled $113.5 million, ranking Argentina fourth among export destinations in South America. Top exports from the U.S. to Argentina include mineral fuel (oil), electrical machinery, organic chemicals and plastics. In terms of agricultural exports, leading categories include planting seeds, prepared foods and feeds and fodders.
Key Opportunities for Wisconsin Companies:
- Agricultural technology
- Machinery and parts
- Gas and oil technologies
- Medical equipment and technology
- Information and communication technology
- Food processing equipment
- Electronic security equipment
CHILE
With a total population of 17.5 million, Chile lies in the southern hemisphere and borders Argentina, Bolivia and Peru. Despite recent slower-than-expected growth, Chile remains one of the most stable economies in the region, and forecasts show that Chile will see continued growth, especially from 2018 onward.
The United States-Chile Free Trade Agreement launched in 2004, making 100 percent of U.S products entering Chile tariff-free. Between 2004 and 2014, U.S. exports to Chile increased 513 percent to a total of $16.6 billion as a result of the new agreements.
Additionally, Chile is the second main export market for Wisconsin in South America, behind only Brazil, with total exports in 2015 representing $283.4 million. This situates Chile as the 15th most important export market for Wisconsin in the world.
Key Opportunities for Wisconsin Companies:
- Mining
- Construction
- Information and communication technology
- Energy and clean technology
- Aerospace
- Automotive
- Health care
- Retail