This edition of the International Trade Outlook for Latin America and the Caribbean analyses the complex conditions facing the region’s trade in 2023 marked by weak global demand falling commodity prices and the growing interconnections between trade and geopolitics. It also gives an overview of trade relations with China in recent decades: although this trade has expanded significantly it remains characterized by the exchange of raw materials for manufactures. Lastly the report examines the progress made and challenges faced by the region in the area of trade facilitation. It concludes that there is a need to redouble efforts in the digitialization of trade documents and processes and to explore innovative financing modalities to improve the region’s transport and logistics infrastructure.

This edition of International Trade Outlook for Latin America and the Caribbean covers 2021 reviews the recent performance of global and regional trade following the crisis caused by the coronavirus disease (COVID-19) pandemic. The pandemic triggered a significant loss of export capacity in the region affecting micro small and medium-sized enterprises in particular. The COVID-19 pandemic has underscored the strategic nature of this industry not only because of its direct link to public health but also because it is an innovative sector with significant technological externalities.

The global trade performance in 2019 was the worst since the international financial crisis. This edition of International Trade Outlook for Latin America and the Caribbean analyses that performance as well as the mounting trade tensions and their repercussions for the region’s own trade. The heavy slowdown in global trade is the result of the build-up of trade barriers since 2018 as well as longer-standing factors including weaker global demand increasing import substitution in some economies the smaller share of Chinese production going for export the shrinking of global value chains and the emergence of new technologies that impact the very nature of trade. Chapter II analyses how international trade could contribute more to environmental sustainability. Trade has both positive and negative impacts on the environment and the net balance of that effect is uncertain. The links between trade and the environment have become more visible since the 1990s; the increase in environment-related trade disputes testifies to this as does the fact that environmental chapters are increasingly being written into trade agreements. Finally the third chapter examines the situation regarding infrastructure and logistics which are key to international trade and production. In conclusion public policies on economic infrastructure concessions need to be re-examined considering the crucial role played by the State in regulation especially in overseeing competition.

This first edition of International Trade Outlook for Latin America and the Caribbean which is the continuation of Latin America and the Caribbean in the World Economy with a new title covers 2017 and contains three chapters. The first chapter describes the current international context and the recovery of trade in the region. Chapter II reviews the region’s performance in global trade in services in general and in modern services in particular since 2005. Chapter III provides an overview of Latin America and the Caribbean’s share of the world agricultural trade since 2000 and offers some policy recommendations for increasing the sector’s contribution to regional development.