Exports in the new world environment: The case of Latin America

Exports have played a crucial role in the economic growth of Latin America. The countries that fared best in the recent crisis were those which had succeeded in diversifying their domestic economies and their exports —on the basis of earlier industrialization efforts— and which continued to encourage their export trade. Similarly, if they are to cope successfully with the complications of the present and future external position, deriving from the higher cost of oil, increased external indebtedness, and the pressure on available capital resources, it will be indispensable for exports to keep up or regain their momentum.