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Latin America and the Caribbean in the World Economy 2015

The Regional Trade Crisis - Assessment and Outlook

image of Latin America and the Caribbean in the World Economy 2015
This report reviews international and regional developments from a trade perspective, describing the principal global economic trends and structural changes in international trade, the main areas of trade growth and the changes these drive in the region. With external conditions sluggish and highly uncertain as the global economy still struggles to shake off the effects of the economic crisis of 2008-2009, the Latin American and Caribbean region is not isolated from these effects and is projected to record a small drop in gross domestic product in 2015, followed by a weak recovery in 2016. This edition of the Latin America and the Caribbean in the World Economy examines how this third consecutive year of increasing declines in regional export values affects the region.

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Introduction

With external conditions sluggish and highly uncertain as the global economy still struggles to shake off the effects of the economic crisis of 2008-2009, the Latin American and Caribbean region is not isolated from these effects and is projected to record a small drop in gross domestic product (GDP) in 2015, followed by a weak recovery in 2016. Against this backdrop, 2015 will be the third consecutive year of increasing declines in regional export values; a state of affairs not seen since the Great Depression of the 1930s. This poor performance reflects the end of the commodity price boom, the slowdown of the Chinese economy, the weak recovery of the eurozone and the lacklustre economic activity in the region, particularly in South America.

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