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The value of exports from Latin America to the rest of the world grew 29 percent in 2010, reaching 853 billion U.S. dollars, and reversing a 23-percent fall in 2009, the Inter-American Development Bank (IDB) said on Friday.
Intra-regional trade, as part of Latin America's total trade to the rest of the world, reached 17.5 percent this year, slightly less than the figure of 17.8 percent in 2009.
The IDB said that the decrease in exports, which began with the global financial crisis in October 2008, began to change at the end of 2009.
Exports from Latin America to China increased 50 percent, compared to 2009 levels.
Brazilian and Chilean exports to China were not affected during the global crisis.
On a sub-regional level, exports by the Common Market of the South (Mercosur) and the Andean Community increased by 28 percent in 2010.
As for Mexico, exports are expected to increase by one third this year, to surpass the levels prior to the 21 percent decrease in 2009.
Exports maintained the same momentum, and the United States continues to be the main trade partner of Mexico.
Similarly, Mexican exports to the countries in the Central American Common Market (MCCA, which includes Costa Rica, Guatemala, El Salvador, Honduras and Nicaragua) are expected to increase by 29.2 percent.
MCCA exports, which registered a milder fall than those of other Latin American countries in 2009, increased by 14.1 percent this year.
These results seemed to show a recovery of Latin American exports to the rest of the world. However, the increase remains fragile and depends on a number of external factors, the IDB said.
If the United States faces a slower growth than expected, or suffers a serious debt crisis, the demand for regional exports could go down, the organization warned.
Diversifying exports to the Chinese market helped mitigate this crisis. However, if the global recession gets worse, the Asian giant might reduce their demand for primary goods from the region, the IDB said.
(Source:xinhua)
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