Latin America and the Caribbean in the World Economy

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The Economic Commission for Latin America and the Caribbean (ECLAC) has just published the report, “Latin America and the Caribbean in the World Economy: The Region in the Decade of the Emerging Economies.” According to the study, the value of goods exported from Latin America and the Caribbean will grow by 27 percent in 2011, which is a similar increase to that of last year. This growth would result from a 9 percent increase in the volume of exports and an 18 percent rise in the price of products exported by the region.

The South-South exchange, headed byChina and the rest of emerging Asia, is identified as the main driving force of global trade growth, since the volume of exports from developing countries grew by 17 percent in 2010, compared with 13 percent in industrialized countries.

The organization stresses that international trade has significantly contributed to economic recovery following the economic and financial crisis of 2008 and 2009. However, it also warns that at present, the complex situation in developed countries, in particular the United States of America and in Europe, is starting to affect emerging nations and could decrease the rate of growth of exports to these markets in 2012.

The full text is available on the web.