Latin American exports saw growth in 2011, report says
Latin American exports remain on track to reach a projected 26 percent increase over 2010 levels in 2011 to total approximately $1.1 trillion, according to a new report by the Inter-American Development Bank (IDB).
Exports in Latin America grew 24 percent in 2011 while “extra-regional” flows grew 26 percents, read the report by Latin American Preliminary Trade Estimates 2011.
Many countries in Latin America saw exports grow substantially – 45 percent in the case of Venezuela – during the first three quarters of 2011. Rebounding commodity prices from lows in 2009 helped bolster Latin American economies through 2011, the report said, but external factors including the Euro-zone debt crisis and plans to reduce the fiscal deficits in the United States could threaten this year’s continued growth.
The report indicated the potential for both a stronger reliance on trade with China from Latin American countries in the future as well as an overall reduction in the region’s growth rate in 2012 due to uncertainty in global markets.
You may be interested
Pic of the Day: Costa Rica’s Isla Nublar (aka Cocos Island)Alejandro Zúñiga - April 18, 2019
Isla Nublar, the setting for much of the "Jurassic Park" series, is unfortunately not a real Costa Rican island. Cocos…
Costa Rica holds Maduro regime responsible for diplomat’s safetyAFP and The Tico Times - April 18, 2019
The Costa Rican Foreign Ministry said on Wednesday that it places responsibility with the Venezuelan government of Nicolás Maduro for…
Venezuela withdraws diplomatic credential from Costa Rican diplomatAFP and The Tico Times - April 17, 2019
Venezuela withdrew the diplomatic credential from the Costa Rican chargé d'affaires on Tuesday in retaliation for the country’s acceptance of…