Trade between Latin America and the Caribbean due to grow in 2025 despite US tariff policy, ECLAC report shows

Trade between Latin America and the Caribbean will likely grow in 2025 despite broad U.S. tariffs across the region, which have had a weaker impact than initially expected, a report by UN's Economic Commission for Latin America and the Caribbean (ECLAC) revealed on Wednesday.

The ECLAC projected that the value of the region's exports would rise by 5% this year, up from 4.5% in 2024, driven by a 4% increase in export volume and a 1% increase in prices, the report said.

Mexico, the region's main exporter, is expected to see a 5% increase in shipments.

"The impact of these tariff increases on the dynamism of global trade has been less than initially expected, largely due to the acceleration of imports and the accumulation of inventories by U.S. companies during the first quarter and the strong momentum of trade between Asian economies," the ECLAC said.