Friday, October 24, 2014
Latin America and the Caribbean should do more to facilitate trade in order to boost region’s exports
Three years of sluggish growth in the exports of Latin America and the Caribbean (LAC) make it urgent to implement policies that facilitate trade, according to a study published today by the Inter-American Development Bank (IDB). The Trade and Integration Monitor 2014 notes that the fall in international demand and in the prices of many basic goods that are exported from the region highlight pre-existing vulnerabilities in the external sector. Despite efforts to diversify exports, over the past decade the region’s export basket has been concentrated on basic goods and their by-products, making Latin America and the Caribbean vulnerable to fluctuations in price and demand.