Latin American Regional Trade Forecast in $74 Billion

Trade among members of the Latin American Integration Association (ALADI) is forecast to reach $74 billion this year, up 24 percent from 2004.

An ALADI report shows that “during the first nine months of 2005, trade among association members remains steady, although at a more modest rate than in 2004, which was a historic year with 37 percent. Anyhow, the trade flow increase in this period is 26,5 percent which is significant”.

Trade in 2004 between Argentina, Bolivia, Brazil, Cuba, Colombia, Chile, Ecuador, Peru, Paraguay, Mexico, Venezuela and Uruguay reached almost $60 billion and 2005 estimates reach $74 billion.

As to imports, the report indicates that growth is also even and with the exception of Paraguay, at relatively high rates with a minimum 16 percent for Brazil and 62 percent for Venezuela. Several countries have a significant incidence in the global regional imports growth figure, Argentina leads with 21 percent; Chile 15 percent; Mexico 12 percent and Brazil 11 percent.

Regarding exports, the report indicates a “relatively extended expansion” and with the exception of Paraguay, the rest of ALADI members a show strong surge from 7,3 percent in Uruguay to 53,4 percent in Peru.