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Good year for exports

Thursday, October 16, 2014

Central American exports will have grown in 2014 compared to last year, while the rest of Latin America sees a third consecutive year of stagnation, according to a recent study by the Economic Commission for Latin America and the Caribbean.

In the region, Nicaragua will see the most dynamism, with a 7.4 percent growth expected in exports for the year.

Imports will increase 1.4 percent in the same period.

In second place is Guatemala, with an expected 6.7 percent growth in exports, followed by Costa Rica and Honduras at 3.6 percent and 3.4 percent respectively.

Panama, typically a net importer of goods and services and a net importer of capital, will see import growth of 5.5 percent and an increase of exports of 1.8 percent.

The only Central American country with a negative trade performance is El Salvador, whose exports are expected to decline 1.5 percent.

Mexico for its part will get a boost in its balance of payments, thanks to an expected increase in exports of 5 percent, more than double the anticipated 2.3 percent growth in imports.

Colombia is in the reverse position, with an expected decline in foreign sales of 1.8 percent and a 3.9 per cent increase in imports.

In Latin America, exports are expected to grow less than 1 percent this year, compared to 24 percent growth in 2011.