Latin American exports to the world grew by a projected 29 percent in 2010, to approximately $853 billion, reversing a 23 percent fall in 2009, according to preliminary estimates by the Inter-American Development Bank’s Integration and Trade Sector.
Intra-regional exports grew 27 percent, while extra-regional flows expanded nearly 30 percent. Intra-regional trade as a share of Latin America’s total trade with the world stands at an estimated 17.5 percent, slightly lower than last year’s 17.8 percent.
The steep fall in exports that began with the global financial crisis in October 2008 was largely reversed by late 2009, and export performance has been generally strong ever since. Trade with China in particular has provided a counterbalance to weak demand in the developed countries. Latin America’s overall exports to China grew nearly 50 percent this year over 2009 levels.
Mexico’s exports are projected to grow by a third this year, more than offsetting last year’s 21 percent decline.