Trade With USA

USA – Latin American Trade

Latin America is far from the largest U.S. regional trade partner, but it has long been the fastest growing one, with the current exception of Africa. Between 1996 and 2009, the total U.S. merchandise trade (exports plus imports) with Latin America grew by 98% compared to 72% for Asia (driven largely by China), 53% for the European Union, 32% for Africa, and 65% for rest of the world.This is due to two important trends. First, Mexico has historically been by far the largest U.S. trade partner in Latin America. However, the total trade with many other Latin American countries increased faster since 2008, which was skewed heavily by their oil exports.

Last year’s growth elevated trade between the United States and the region to a historic high of $772 million. Exports to the region grew 22 percent to $350 million, while imports reached 20 percent for a total of $420 million.

U.S. Direction of Total Trade, 1996 and 2009
1996: $1,414 billon 2010: $3,400 billon

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Latin America’s growing importance as a U.S. trade partner is a key aspect of this trend. Since the1980s, many Latin American countries have adopted trade liberalization as part of broader Economic reform programs. Trade reform, however, has not been embraced with equal vigor by all countries and U.S. exports are not all treated equally under various liberalization schemes. Also, trade reform has stalled or even reversed in some countries when faced with economic instability or changing political philosophy.

The trade data suggest that there may be room for growth in trade between South America and the United States. Trade policy changes could provide some of the basis for growth in U.S.-South American trade, but they may not be immediately huge given South America’s historically small interest in the United States and the limited size of its markets. Still, many economists believe that lowering barriers to U.S. exports and guaranteeing market access may generate long-term Trade and investment opportunities, which in turn could lead to higher growth in productivity and output, with both producer and consumer benefits. Similarly, the prospect for even greater access to the large U.S. market presents attractive opportunities for South American countries, as well.

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    About the Books


    Author Lucila Ortiz offers an easy Spanish reference guide for business's people; travelers and anyone that has the desire to learn the Spanish Language and Culture. Trade is one of the most enduring issues in the contemporary US-Latin America relations. To strengthen the development of this trade relationship, author Lucila Ortiz presents the Spanish Instructive Planner: Spanish for Beguiners, and A Primer for Spanish Language, Culture and Economics; an informative guide that helps English-speaking individuals grasp, manage, understand, and conduct business in Spanish, and for all travelers as well.


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    LUCILA ORTIZ
    AUTHOR

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