LAC’s Top Trade Partners: India a growing force


26th July 2013

Our list of Latin America’s top trading partners shows declines in trade with East Asia, but growth with India and Europe.

India is the country that registered the largest year over year improvement in bilateral trade with Latin America according to the latest statistics on Latin America’s Top Trade Partners from Latin Business Chronicle. Bilateral trade with the subcontinent grew 46.7 percent in 2012 to $39.7 billion, bringing the country in at number 9 of the region’s top 15 trading partners. This is ahead of more tradition partners such as Italy, the United Kingdom, France, and Taiwan. The increase follows years of efforts by leaders on both sides to improve commercial relations: Indian-Latin American trade has increased sixteen-fold since the beginning of the century, doubling since 2009 alone.
But the United States remains the unquestioned main trading partner of Latin America and the Caribbean (LAC) as a whole. Bilateral trade between the United States and LAC stood at $821.9 billion in 2012 – a 6.2 percent increase. While China’s growing share of trade with Latin America continues to grab headlines – with the country replacing the United States as various countries’ main trading partner –bilateral trade between the United States and LAC outnumbers that with China by four to one. Further, this trade with LAC represents a small trade surplus for the region – of nearly $50 billion – compared with a trade deficit of $8 billion with the Asian giant.
While trade with …

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