The Netherlands has replaced Germany as Latin America’s largest EU market. Chile is losing out in EU trade.
BY CHRONICLE STAFF
The Netherlands is now the largest market in the European Union (EU) for Latin American goods and the second-largest in trade, according to a Latin Business Chronicle analysis of data from Eurostat, the official EU statistics agency.
Total EU trade with Latin America increased last year by 10.2 percent to 176.3 billion euro (US$245.4 billion), according to the Latin Business Chronicle analysis. EU export to Latin America grew by 11.6 percent to 79.7 billion euro, while imports from the region increased by 9 percent to 96.6 billion euro. The EU’s trade deficit with Latin America declined by 2.1 percent to 16.9 billion euro.
Latin America’s trade with the EU grew at a slower pace than with the United States, which expanded by 12.9 percent last year, according to a previous analysis from Latin Business Chronicle. While Latin American exports to the United States grew at the same level as to the EU (9 percent), the US growth in exports to Latin America was much higher (18.5 percent).
Latin American exports to The Netherlands grew by 18 percent last year to 18.0 billion euro. By comparison, exports to Germany grew...
Keywords: Argentina, Belgium, Brazil, Central America, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Finland, France, Germany, Guatemala, Italy, Nicaragua, Panama, Peru, Portugal, Sweden, UK, Venezuela