Latin America Trade: Asia Leads Growth
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2nd August 2011

Asia is gaining most in trade with Latin America, led by China and Taiwan.

BY LBC STAFF
 
Three Asian countries lead the way in growth among Latin America’s top 15 trade partners last year, according to a Latin Business Chronicle analysis of data from official entities in North America, Europe and Asia. The three are Taiwan, China and Japan.
 
Meanwhile, Canada has replaced Korea as Latin America’s fifth-largest trade partner, while India replaced France as the region’s tenth-largest partner.
 
The United States remains the undisputed top trading partner for Latin America. Its trade with region reached $636 billion last year, which was nearly four times more than China’s trade with Latin America ($179 billion). 
 
After the United States and China, the other leading trade partners include Japan ($67 billion), Germany ($55 billion) and Canada ($48 billion).
 
The Netherlands, Spain and Italy kept their rankings as Latin America’s seventh, eighth- and ninth-largest trade partners.
 
Thanks to strong growth in Latin American exports to India last year, India joined the ranks of the top ten trading partners of the region (up from 13th place in 2009). Total trade between India and Latin America reached $23 billion last year.
 
The United Kingdom also inched up one spot – to 11th place, thanks to trade of $22 billion last year.
 
Meanwhile, both France and Singapore fell on the ranking (two spots each), while Belgium and Taiwan …

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