International Trade Consulting

International Trade Consulting

Cultural Consulting

Let’s make your vision for international business come true together!

Exporters: why should you sell your products internationally?

During the financial crisis of 2008, many American businesses found their domestic markets could not buy enough to sustain their production lines. They began seeking – and finding – additional customers and distributors in the international marketplace. The current economic downtown could mean you face a parallel scenario and opportunity. This means conducting market research, rethinking marketing campaigns with a cultural and multilingual twist, and developing a cohesive global strategy. Is your target market receptive to your product or service? Are there compliance constraints: labelling laws, special permits for agricultural products or children’s toys, Customs documentation, etc.?  Do your website and ecommerce platform really attract WORLDWIDE customers? Let’s talk about your big vision and find a way to make it reality.

Importers: when you buy products from global suppliers:

The Trade Wars with China and the EU resulted in huge tariffs being imposed in recent years. This caused many businesses to rethink where they source their goods. COVID-related factory shutdowns reduced supply. Border closures complicated freight logistics. Businesses are now acting to diversify their sources, re-think just-in-time procurement, and/or shift their manufacturing to regional locations. For example, textiles manufacturing is shifting from China to Central America and Vietnam. Do you have the strategic connections and language abilities to identify and negotiate with a new manufacturer overseas?

Perhaps you begin by participating in international trade missions and tradeshows. In 2020, many are in a virtualized environment, meaning more accessible overhead costs. Verbio can steer you toward grant funding that could DOUBLE your marketing budget for exports. Verbio reduces your language and cultural barriers:

Oregon Trade Statistics

Oregon set another record for exports in 2019: $23.6B of Made-in-Oregon products were sold overseas. That means Oregon grew its exports by 5.3% over the prior year, at the same time as imports shrank by 6.7% down to $18.6B.

What does this mean for the average Oregonian? One in 5 jobs in Oregon are based on products made here and sold internationally. 505,000 Oregon jobs are connected to trade, and jobs in trade earn 18% more than their national average

What do Oregon businesses sell? electronics and semiconductors, chemicals, semitruck tractor, civilian aircraft and parts, wheat, footwear, potatoes, etc.

Where do Oregon businesses sell? China, Canada, Japan, Malaysia, South Korea, Vietnam, Taiwan, Mexico, Germany and more.

 

Sources:

https://www.census.gov/foreign-trade/statistics/state/data/or.html

https://www.census.gov/foreign-trade/statistics/state/data/imports/or.html

https://www.bcg.com/publications/2020/redrawing-the-map-of-global-trade?fbclid=IwAR1C1_2DYxA4Y9jPDzEkyJ968RpiAOeahamZV5QzZmxkcro1-jHUAWag4Ok