TRADE TRENDS ESTIMATES LATIN AMERICA - Publications

TRADE TRENDS ESTIMATES

LATIN AMERICA

AND THE CARIBBEAN

2021 EDITION

INTAL

TRADE TRENDS ESTIMATES

LATIN AMERICA AND THE CARIBBEAN

2021 EDITION

Coordinated by Paolo Giordano

INTAL

This report provides estimates of Latin America and the Caribbean's international trade flows for 2020. It was prepared by the Integration and Trade Sector (INT) at the Inter-American Development Bank (IDB), in collaboration with its Institute for the Integration of Latin America and the Caribbean (INTAL), under the overall supervision of Fabrizio Opertti, Sector Manager, and Pablo Garc?a, Director of INTAL. Technical supervision was provided by Mauricio Mesquita Moreira, INT's Economics Principal Advisor.

This edition was coordinated by Paolo Giordano, INT Principal Economist, and written in collaboration with Kathia Michalczewsky, INTAL consultant. Jesica De Angelis participated in the research process and Cloe Ortiz de Mend?vil provided valuable comments. Carolina Barco and Eugenio Negrin helped with data processing.

Ximena Abeledo, Pablo Bachelet, Andr?s Cavelier, Graziela Flor, and Mar?a Lidia V?quez provided support for the team during the production and publication process. Manuel Quintana provided technical support. The publication was designed and typeset by Word Express and translated into English by Victoria Patience.

The estimates in this report are based on quarterly and monthly data available for 25 Latin American and Caribbean countries for 2020 from official national and international sources. The information included in the report is current as of November 20, 2020.

Copyright ? 2020 Inter-American Development Bank. This work is licensed under a Creative Commons IGO 3.0 AttributionNonCommercial-NoDerivatives (CC-IGO BY-NC-ND 3.0 IGO) license ( igo/legalcode) and may be reproduced with attribution to the IDB and for any noncommercial purpose. No derivative work is allowed.

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The opinions expressed in this publication are those of the authors and do not necessarily reflect the views of the InterAmerican Development Bank, its Board of Directors, or the countries they represent.

GENERAL OUTLOOK

2021

TRADE TRENDS ESTIMATES

INTER-AMERICAN DEVELOPMENT BANK

2014

-2.9%

2016

-3.3%

IMPACT OF THE PANDEMIC

The value of exports of Latin America and the Caribbean will fall at an estimated rate of between ?11.3% and ?13.0% in 2020.

Estimated annual growth rate for 2020.

2015

-14.8%

2017

12.2%

2018

8.2%

2019

2.3 %

TREND

The impact of the pandemic in the region's trade

performance has eased and although signs of recovery

are starting to emerge, they are still unstable.

2020

between

?11.3% and ?13.0%

PERFORMANCE BY COUNTRY

The trade contraction was deeper in the first part of the year and impacted almost all countries in the region.

Estimated annual growth rate for 2020 under the main scenario.

CHANGE IN DEMAND

China was the only destination where exports increased, despite the initial contraction.

Estimated annual growth rate for 2020 under the main scenario.

?14.6%

United States

?16.0% European Union

less than

between

between

between greater than n.d.

?30% ?30% and ?20% ?20% and ?10% ?10% and 0% 0%

2.1% China

?20.2% Intraregional

?33.5%

?1.5%

0.1%

2.3%

2.5%

7.9%

oil copper co ee

sugar soybean iron ore

PRICE REDUCTION

Even though the pandemic drove prices of commodities down, they recovered throughout the year.

Year-on-year growth rate between January and October 2020.

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