Foreign trade in Latin America and the Caribbean will suffer from the global economic slowdown, a UN commission says.
“The current recession in the eurozone, the lack of economic dynamism in the United States and Japan and the moderate growth of China and other emerging economies will affect trade in the region,” the United Nations Economic Commission for Latin America and Caribbean (ECLAC) said Thursday in its annual report titled “Latin America and the Caribbean in the World Economy 2011-2012″.
The commission estimated that regional exports would increase 4 percent in 2012, while imports were expected to rise 3 percent. The average trade exchange will be 20 percent lower than growth rates from last year.
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