- Category: The Nation
- Published on Tuesday, December 14 2010 05:04
- Written by Rod Hughes
- Hits: 910
Latin American exports rose a healthy 29% in 2010, rebounding heartily from the 23% decline in 2009 in the wake of the worldwide recession, reported the Inter-American Development Bank (IDB) on Friday.
The decline in trade began in October of 2008 but began to change at the end of 2009, even before some regional economies, such as in the Mediterranean area, had begun to feel the first glimmerings of recovery.
Latin American exports to China grew 50% in 2010 compared with the year before and much of the increase in export value is credited to Latin countries diversifying to the huge Chinese market, according to IDB.
While these figures appear encouraging, Latin American export recovery remains fragile, cautioned IDB. Should the growth in the United States prove slower than expected or should that nation suffer a debt crisis, exports would suffer. If the global recession should grow deeper, even exports to China could be effected, IDB added.
Recent reports of less than happy U.S. job recovery figures could impact the Latin American trade scene.