If you are looking to source from abroad, we would suggest you review the following to compile a shortlist of potential countries:
- ITC's Export Potential Map - To find the countries with the greatest potential to supply specific goods.
- ITC's Trade Map - To identify those countries which export specific goods).
- HMRC's Look Up Service - To check what tariffs may be applicable on imports.
- Your own policy considerations - Limits on: distance, language, time zone etc.?
Having drawn up your shortlist of countries (or if you already have a country shortlist), the next move is to look for Suppliers in those countries.
ITC’s Export Potential Map
This helps you to find those countries that are likely to be most competitive in the provision of the products you are interested in.
The Export Potential Map is a free tool that turns economic analysis into practical trade information. Using the Map’s customizable and shareable visualizations, you can spot products, markets and suppliers with (untapped) export potential.
You can search by: Products, Sub-Sectors, Sectors, Countries, Sub-Regions or Regions:
ITC’s Trade Map
This helps you to find those countries that are the biggest exporters of the products you are interested in.
Trade Map provides - in the form of tables, graphs and maps - indicators on export performance, international demand, alternative markets and competitive markets, as well as a directory of importing and exporting companies. Trade Map covers 220 countries and territories and 5,300 products of the Harmonized System.
(N.B. If you search by product you will need to know the relevant Harmonized System product code.)
N.B. Users located in the U.K. have restricted access to Trade Map. Click here for free registration - which gives a wider access to Trade Map or to access the full versions of the tools click here to subscribe. ($900 p.a. for an Institutional License allowing all employees of the institution to create their own account based on the institution's email extension (domain).
Do any tariffs make importing goods from a particular country uneconomical? Before contracting to import, it is important to know what these are.
Your Own Policy Considerations
Apply any policy limitations that your company has in relation to entering export markets. (e.g. distance, time zone, language, size of market, domestic currency etc. - see the Country Profiles where you can browse these and other information listed by country.)
Apply any policy limitations your company has in relation to entering export markets (e.g. sanctions applied by the U.S. and the U.N. not just the British Government, distance, GDP per capita, market size, currency, business languages, availability of British Representation* etc.) – browse the Country Profiles.
For example, if you check the Trade Profile for Syria, you can see that:
- Syria is subject to EU and OFAC (US) sanctions.
- The Corruption Perceptions Index is 178/180.
- The Ease of Doing Business Ranking: 179/191
- Country Ratings are provided by Coface and Credendo.