The value of Latin American exports grew 8.9% in the first quarter of 2021 compared to the same period the previous year, consolidating a change in trend after the contraction caused by the Covid-19 pandemic, according to a report by the Inter-American Bank of Developing.
The drop in the value of external sales in 2020 was 9.0 percent.
Exports are expected to continue growing in the coming months, according to the latest edition of the Estimate of Trade Trends in Latin America and the Caribbean series, which in this edition analyzes the trade performance of 18 countries in the region. However, the recovery is still fragile as it has been driven exclusively by higher export prices.
“The pandemic will continue to impact domestic markets in the coming months,” said Paolo Giordano, Principal Economist of the IDB Trade and Integration Sector and coordinator of the study.
The price of iron ore rose 93.6 percent, copper (57.9 percent) and oil (41.7 percent), and soybeans (60 percent).
Source:
El Día