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New sales markets for the Bavarian economy
Foreign business is key for Bavarian and German companies. Bavaria’s industry has an export share of over 50 percent. Economic success and prosperity in Germany and Bavaria come, to a large extent, from this internationalization of our economy because, as a national economy with a comparatively small domestic market and a high industrial share, we rely on exports.
International business, however, has become a lot tougher. Fragile supply chains, trade conflicts and geopolitical tensions have exposed the dependencies of our economy. We are also seeing a rise in protectionist tendencies and growing competitive pressure on individual markets.
Companies are therefore advised to boost their resilience by acquiring new customers. Free trade agreements create an important framework to this end.
Our study is aimed to provide companies that wish to step up export diversification with a reliable pool of information and to help them identify new global export markets.
The vbw study, which we commissioned Prognos AG to prepare, investigates attractive marketplaces in Latin America that open up potential for Bavaria’s key sectors of business and industry to diversify their exports.
Five new potential markets are spotlighted in factsheets: the general framework, the sales potential at the level of individual product groups as well as the attractiveness of the market as an investment location.
The study can be downloaded as a PDF file.
