EU exports to Latin America grew strongly in 2012

EU sales to the largest Latin American economies increased at relatively stable growth rates last year, but those earmarked to smaller countries soared, as in the case with Ecuador (up by 56 percent), Nicaragua (48 percent) and El Salvador (46 percent). While the EU continued supplying durable goods, machinery and equipment, and some agro-industrial products, Latin America remained a provider of commodities. The region's falling terms of trade materialized in significant declines of export revenue to the EU, particularly in the cases for El Salvador (down by 31 percent), Paraguay (-21 percent) and Chile (-13 percent). Yet, other countries, such as Colombia, Cuba and Haiti, managed to increase their sales to the EU at rates of above 20 percent each.