Our neighbor at the north of the hemisphere saw declined commercial activity with Latin America last year, with bilateral trade down 1.8 percent over 2011 to $52.1 billion. Exports to the region fell 3.7 percent to a little over $12 billion, while imports from the region fell 1.2 percent to a little under $40 billion. This marks a reversal after years of strong gains: in 2010, the last year for which the index was published, year over year trade had grown a whopping 26.2 percent.