Commodities boost LATAM surpluses in 2021

Latin America and the Caribbean are expected to record a significant rebound in 2021 overall trade, according to the Economic Commission for Latin America and the Caribbean (ECLAC), and an analysis by Trade Data Monitor, the world’s premier source of trade statistics. Significantly for balance of payments, big increase in key commodities have driven high trade surplus, and an influx of currency into the region, especially in Brazil. ECLAC now expects overall exports to increase by 25% in 2021 after falling 10% in 2020, on the back of a 17% rise in export prices and an 8% expansion in the volume of shipments. “The increase in the region’s goods exports in 2021 is due mainly to higher prices for basic […]