A. M. 
Courtesy
In 2024, exports of goods from Latin America and the Caribbean grew by 4.1% following a 1.6% contraction in 2023, according to a report by the Inter-American Development Bank (IDB). This rebound is attributed to an increase in exported volumes, while prices remained stagnant. However, the IDB warns that there are no signs of sustained trade expansion in the region, despite the improved outlook for the year.
The behavior of export prices varied significantly by commodity. While coffee and copper experienced notable increases of 57.7% and 9.4%, respectively, other products such as soybeans, sugar, iron and oil showed year-on-year declines. The downward trend in prices, coupled with high volatility, is a persistent challenge for countries in the region.
Performance by subregion reveals marked differences. South America experienced 4.0% growth in exports, driven by a 6.9% increase in export volumes, despite the continued contraction in prices. Mesoamerica recorded moderate growth of 3.6%, led by Mexico, while Central America showed practically no variation, with a marginal increase of 0.1%.
The Caribbean stood out with a significant recovery, achieving an 18.3% increase in 2024, in contrast to the 14.9% drop suffered the previous year. This rebound marks a positive turnaround for the sub-region, although the report warns that the sustainability of this recovery will depend on global conditions.
Overall, although the region managed to overcome the contraction phase, challenges related to export prices and global trade dynamics continue to limit its ability to achieve sustained and balanced expansion in the near future.
