While Latin American exports to the United States drop by two digits, they jump from Costa Rica.
BY CHRONICLE STAFF
The global economic crisis impacted U.S. trade with Latin America, resulting in double-digit declines in exports and imports. However, some countries managed to fare better than others.
Mexico, the top U.S. trade partner, was not among the worst performers when measured in percentage terms. In fact, Mexico posted the fourth-best performance last year among the top U.S. markets in Latin America, according to a Latin Business Chronicle analysis of new data from the US Census Bureau.
And Costa Rica, the wealthiest Central American country in per capita terms, boosted its exports to the United States by 42 percent despite the U.S. crisis.
Instead, it was Venezuela that became the big loser, showing the worst performance in overall trade and exports to the United States. That resulted in Brazil replacing Venezuela as the second-largest U.S. trade partner in Latin America. Meanwhile, a steep decline in its imports from the United States led Venezuela to be replaced by Colombia as the third-largest export market for U.S. goods and services in Latin America.
All in all, total U.S. trade with Latin America reached ...
Keywords: Argentina, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Mexico, Peru, Variant Advisors, Venezuela