Choosing the right target market is crucial for exporters, and while the United States is a natural starting point due to its proximity and large economy, it’s important to also consider diversifying exports to other markets such as the European Union, Asia, and beyond. Diversifying exports can provide additional revenue streams and reduce risks if economic or political factors negatively impact business in a particular market. Studies have also shown that exporters who sell to multiple markets have higher export volumes, and a small percentage of exporters who sell to multiple markets account for a majority of Canada’s total export value.
Learn more here: https://www.edc.ca/en/blog/expand-beyond-the-u-s.html
