For the first time in four years exports from the Caribbean and Latin America have increased.
In the first quarter of 2017, the value of exports increased by 17 percent, following a decline of 2.9 percent in 2016. The recovery was primarily driven by a rebound in commodity prices, according to an analysis conducted by the Inter-American Development Bank (IDB) using detailed data from 25 regional countries.
“The trend reversal is positive news for Latin America and the Caribbean. Yet, in the current context, one should not overestimate the drivers of this export expansion, which remains unstable and still restricted to a few regional economies,” Principal economist of the integration and trade sector at IDB, Paul Giordano, said.