Latin American exports of manufactured goods grew 13,2% in the first half of 2017, after 25 months of contraction, but have lost market share, according to a study by the Inter-American Development Bank (IDB).
The document recalled that Latin American exports had ended 2016 with a decline of 3,3%.
According to the IDB, this recovery in total exports was driven "essentially by a rebound in commodity prices, while trade in services showed greater resilience."
Therefore, the document noted that "Projections for the second half of 2017 indicate a probable slowdown in growth".
However, the study revealed that Latin America and the Caribbean trade experienced a decline in its share of the global market, especially in the period between 2010 and 2015.
This occurred "not only because of the specialization bias of the export basket, but also due to lower competitiveness," the report said.
For economist Paolo Giordano, coordinator of the study, "the region faces a trade scenario that is substantially less favorable than the one that prevailed before the crisis."
For that reason, he added, Giordano, A "radical shift" in international integration policies is necessary".
Mexico is the only country in the region that has managed to increase its market share, as between 2010 and 2015 its exports increased by 30,4% and in 2015 they represented almost 40% of the total exports from Latin America and the Caribbean.
The IDB study also focused on the 24% growth in e-commerce in Latin America in 2015 compared to the previous year.
However, the study found that Argentina, Brazil and Mexico account for more than 70% of the value of online transactions.
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
