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Latin America Trade: Panama Best, Venezuela Worst

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Only Panama boosts exports, while Central America fares better than expected. Venezuela and Ecuador lose most in exports.

BY CHRONICLE STAFF

 

As Latin American governments are forecasting a pickup in trade this year, a Latin Business Chronicle analysis of UN estimates shows that the region last year posted a 23 percent decline in its overall trade of goods and services.

Only one country – Panama – managed to increase its exports, while all nations in Latin America posted declines in imports.

Although the global crisis impacted the whole region, the results varied strongly between countries.

Central America did surprisingly well despite its heavy dependence on the U.S. economy. Four Central American countries were among the top five trade winners (with Panama as the fifth) and none were among the top losers.

While Mexico, the top trading country in Latin America, was impacted, it was not the worst in percentage terms. It ranked as the fifth-worst in both exports and imports.

The big loser was Venezuela, which saw its trade drop by ...

with table of 2009 trade for 18 countries

Keywords: Argentina, Brazil, Central America, Chile, Colombia, Costa Rica, Ecuador, Mexico, Panama, Peru, Venezuela

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