Antigua and Barbuda is a sovereign state consisting of a number of islands, with the 2 major ones being Antigua and Barbuda. It is located in the West Indies. In the year to June 2019, the top 5 goods exported from the UK to Antigua and Barbuda were ships, beverages, textile fabrics, consumer manufactures and medicinal and pharmaceutical products (ONS, 2019).
Argentina is the second largest economy in South America. It's a member of the G20 and the Mercosur trading block. Argentina has vast natural resources in agriculture, mining and energy including renewables. It has the highest English Proficiency Index score in Latin America (2019) and its people have a European style business culture.
Barbados is an eastern Caribbean island located near St. Lucia and St. Vincent and the Grenadines. It is popular with foreign tourists. In the year ended August 2019, the total UK exports to Barbados amounted to £199 million (ONS, 2019).
Located on the north eastern coast of Central America, Belize is bordered to the north west by Mexico, on the south and west by Guatemala, and to the east by the Caribbean Sea. In the year to June 2019, the total UK exports to the country amounted to £20 million (ONS, 2019).
Brazil and the UK have long historical ties in trade and investment. The largest South American economy, Brazil has a familiar, European-style business culture. Total trade between the UK and Brazil was worth £5.8 billion in 2018, a 4.7% increase from 2017.
Canada is the second largest country in the world by area, and has a population of 37 million people (IMF, 2019). It’s politically stable with a strong record of economic growth. The UK has well-established trade links with Canada, and in the year up to March 2019 UK exports totalled £10.7 billion (ONS, 2019).
Chile is the UK’s third-biggest trading partner in Latin America (Comtrade, 2019). Chile has enjoyed long periods of growth. A pro-business sentiment and a strong drive for innovative solutions make it a great first stop for companies new to the region.
Colombia has the 4th largest economy and the 3rd largest population in Latin America (World Bank, 2019). After a long period of conflict it has emerged as a strong economy in the region. Total trade in goods and services between the UK and Colombia was £1.3 billion in the year ending June 2018 (ONS, 2019).
With a population of 5 million people (IMF, 2019), Costa Rica is a Central American country bordered by the Caribbean Sea to the north east and the Pacific Ocean to the south west. In the year ending June 2019, the total trade in goods and services was £446 million, an increase of 2.5% on the previous year (ONS, 2019).
Dominica is located between Guadelope and Martinique in the West Indies. In the year to the end of June 2019, the total UK exports to Dominica amounted to £11 million (ONS, 2019).
The Dominican Republic has one of the largest and fastest growing economies in the Caribbean and Central American regions. Tourism, free trade zones and improved telecommunications are the main drivers of its growth.
Ecuador is situated on South America's west coast. It is bordered by Colombia, Peru and the South Pacific Ocean. The country has a population of over 17 million people (IMF, 2019) and was the UK's joint 89th largest trading partner in the year up until June 2019 (ONS, 2019).
El Salvador is part of Central America. It is located between Honduras and Guatemala. Despite being a small country, it has a population of 6.6 million (IMF, 2018) and has a reasonable consumer market for UK exporters.
Grenada is an island in the West Indies at the southern end of the Grenadines island chain. In the year to June 2019, the total trade in goods and services between the UK and Grenada was £47 million.
Guatemala is in Central America. It borders Mexico, El Salvador, Honduras, Belize and is seen as a gateway into North and Central America. The total trade in goods and services between the UK and Guatemala in 2020 was £220 million, an increase of 42% from 2019 (ONS, 2020).
Guyana (officially the Co-operative Republic of Guyana), is a country in the north of South America. Total UK exports in the year up until April 2019 amounted to £465m, making it the UK’s 84th largest export market (ONS, 2019).
Honduras is a Central American country with a population of 9.5 million and a GDP of USD23.8 million (United Nations Conference on Trade and Development, 2018). Due to the impact of the COVID-19 pandemic its economy is expected to grow -2.3% in 2020 and 3.9% in 2021 (World Bank, 2020). In 2019, UK exports totalled £31 million (ONS, 2019).
Jamaica has a population of 2.9 million people and a labour force of 1.3 million people. With direct sea and air freight links to the UK and the wider Caribbean, it’s located within 4 hours of 500 million people. Jamaica imported £119 million of UK goods and services in 2018 (ONS, 2019)
Mexico is the world’s 15th biggest economy (World Bank, 2020). Total trade in goods and services between the UK and Mexico was £5.1 billion in the four quarters to the end of Q1 2020 (ONS, 2020). The World Bank now classes Mexico as an upper-middle-income country. Demographically, the economically active population continues to grow.
Nicaragua is a Central American country bordered by Honduras to the north west, the Caribbean to the east, Costa Rica to the south and the Pacific Ocean to the south west. It had a population of 6.4 million in 2018 (IMF, 2019). In the year to June 2019, the total trade in goods and services between the UK and Nicaragua amounted to £63 million. However, due to social and political unrest, the Nicaraguan economy contracted by 3.8% in 2018 (IMF, 2018).
Panama has been one of the fastest growing economies in Latin America, with an average annual growth rate of 4.6% over the last 5 years. Due to its privileged geographic location and its sophisticated logistics infrastructure, the country has emerged as the region’s business hub, connecting 1.3 billion consumers (ProPanama).
Paraguay is a South American country with a population of over 7 million people (World Bank, 2019). It has an abundance of natural resources and renewable energy. It is landlocked and bordered by Argentina, Brazil and Bolivia. The economy has grown at an average pace of 4.9% every year for the past decade (World Bank, 2020).
Peru has been the fastest growing economy in Latin America for most of the past decade. Key export sectors for the UK include health and life sciences, mining, sustainable infrastructure, and security. UK and Peru bilateral trade was £646 million in the 4 quarters to the end of Q3 in 2020 (ONS, 2020). The countries have a close and constructive trade and investment relationship.
St Kitts and Nevis is located in the Caribbean, close to Anguila, Antigua and Barbuda and Monserrat. In the year ended June 2019, total UK exports to St Kitts and Nevis amounted to £13 million.
Saint Lucia is an Eastern Caribbean island nation with a population of 183,000 people. In the year to June 2019, total UK exports to St Lucia amounted to £41 million (ONS, 2019).
St Vincent and the Grenadines is a southern Caribbean nation comprising of the main island of St. Vincent, and a chain of smaller islands. The UK exported goods and services with a value of £6 million to St Vincent and the Grenadines in the year to the end of March 2019 (ONS, 2019).
Suriname is a coastal country and is located in South America. It borders on Guyana, French Guiana and Brazil, making it a good gateway. In the year ended June 2019, total UK exports to Suriname amounted to £14 million (IMF, 2019).
The Bahamas is located within the Lucayan Archipelago in the West Indies, and is near Florida, Cuba, the Dominican Republic and Turks and Caicos, which is also part of the Lucayan Archipelago. In the year ended June 2019, the total UK exports to The Bahamas amounted to £162 million (IMF, 2019).
The wealthiest country in the Caribbean Community (CARICOM) with a GDP of US$ 24.1 billion (World Bank 2019), Trinidad and Tobago has the most active manufacturing sector in the Caribbean and a successful petrochemical industry. The country is the UK’s 100th largest trading partner.
The US is the UK’s largest export market for goods and services, accounting for 18.9% of total UK exports in the year ending Q1 2019 (ONS, 2019).